The latest data released by the State Administration of Taxation shows that since the implementation of the "two new" policies, the equipment update of enterprises across the country has been steadily advancing, and production demand has increased steadily. The effect of exchanging old products for new products is obvious, and consumption vitality continues to be released.

The latest tax data shows that from April 2024 to February 2025, the amount of enterprises purchasing machinery and equipment across the country increased by 5.9% year-on-year, reflecting that with the implementation of the action plan for large-scale equipment updates, enterprise equipment updates have accelerated. The amount of digital equipment purchased by enterprises nationwide increased by 15.4% year-on-year, reflecting that digital transformation has become an important development direction for enterprises, and the motivation for enterprises to update digital equipment is strong; the amount of machinery and equipment purchased by private enterprises increased by 8.4% year-on-year, both higher than state-owned and foreign-funded enterprises, reflecting that the supporting role of equipment renewal of private enterprises is more prominent.

At the same time, the policy of exchanging old products to promote the continuous enhancement of consumption vitality. VAT invoice data shows that from April 2024 to February 2025, the sales revenue of daily household appliance retail industries such as refrigerators and TVs increased by 28.6% and 19.9% ​​year-on-year respectively; the sales revenue of furniture and sanitary ware retail industries increased by 18.6% and 13.8% year-on-year respectively, of which the sales revenue of service consumption robots such as sweeping robots increased by 25.9% year-on-year, reflecting the rising consumption of home products and smart homes are more popular among consumers; the national sales of new energy vehicles increased by 45% year-on-year, and the sales of used cars increased by 18.1% year-on-year, reflecting the continued release of demand for automobiles for old-for-new.

(CCTV reporter Li Xia)