The Director of the Economic Construction Department of the Ministry of Finance, Fu Jinling, stated at the State Council's regular policy briefing that preliminary Statistics show that by the end of 2024, based on the amount already approved, the central government allocated 150 billion yuan for replacing old consumer goods has basically been used up. Some localities proactively stepped up after exhausting their central funding quota early, increasing local funding arrangements for support. At the same time, the 150 billion yuan fund for large-scale equipment updates in 2024 has also been allocated by project. The Ministry of Finance has decentralized all funds to local governments and specified them for specific projects.