Recently, the “Beijing Action Plan to Actively Promote Equipment Renewal and Consumer Goods Trade-in” was released. At the press conference held on the afternoon of April 28, Zhao Weidong, deputy director of the Municipal Bureau of Commerce, explained that Beijing is working together on both sides of supply and demand to provide separate support to market players and consumers to promote car trade-ins, focusing on supporting car scrapping and renewal, and can receive up to 10,000 yuan in subsidies. The main goal of the subsidy policy for vehicle scrapping is to speed up the elimination of passenger cars with emission standards of country 3 and below and old new energy vehicles. A subsidy of 7,000 yuan is for scrapping passenger cars with emission standards of country 3 and below or new energy passenger vehicles registered before April 30, 2018 (including the same day) and purchasing new energy passenger vehicles included in the Ministry of Industry and Information Technology's “New Energy Vehicle Model Catalogue for Vehicle Purchase Tax Reduction” of the Ministry of Industry and Information Technology; a subsidy of 7,000 yuan for scrapping passenger cars with fuel emission standards of 2.0 liters or below and purchasing new passenger cars with fuel emissions standards of 2.0 liters or less.