The National Development and Reform Commission and the Ministry of Finance today released a notice on the implementation of a large-scale equipment update and consumer product trade-in policy for 2025, which standardizes the subsidy rates for vehicle replacements. In response, Cui Dongshu, Secretary-General of the Passenger Vehicle Association, indicated that the unified subsidy levels are set at "no more than 0.015 million yuan for New energy Fund Passenger Vehicles and no more than 0.013 million yuan for RBOB Gasoline Passenger Vehicles," effectively achieving equality in subsidy policies across different regions, thereby making market competition more balanced and providing better policy support for Consumers.