According to Peng Pai News, the Shanghai Development and Reform Commission learned that in order to promote the exchange of old cars for new ones in Shanghai and further unleash consumer potential, the Shanghai Development and Reform Commission, Municipal Commerce Commission, Municipal Finance Bureau, and other departments have formulated and introduced detailed rules to support the implementation of subsidies for the exchange of old cars for new cars in the city. For individual consumers who meet the conditions and scrap or transfer their old cars under their names to purchase new cars, subsidies ranging from 120,000 yuan to 200,000 yuan are provided depending on the specific circumstances.