According to the data released by the Ministry of Commerce, since the implementation of the plan to promote the replacement of old products with new ones in March, the policy has gradually taken effect. As of 12:00 noon on June 25th, the Ministry of Commerce's automobile replacement information platform has received 113,000 applications for scrap car replacement subsidies. The number of new subsidy applications has increased by more than 36,000 in the past week, showing an accelerated growth trend. In May, the national auto retail sales reached 2.271 million units, an increase of 8.7% year-on-year, of which the retail sales of new energy passenger vehicles increased by 38.5% year-on-year. The second-hand car transactions reached 1.585 million units, a year-on-year increase of 5.9%. The scrapped car recovery volume reached 523,000 units, a year-on-year increase of 55.6%. (Xinhua News)