China News Service, Nanning, November 14 (Wei Jiaxiu) The Finance Department of the Guangxi Zhuang Autonomous Region recently announced that since the beginning of this year, the Department has established a collaborative working mechanism to promote consumption in conjunction with the development and reform, commerce and other departments, built a diversified investment system of "central guidance, autonomous region support, and city and county linkage", coordinating various funds of 9.1 billion yuan (RMB, the same below), and fully promoting the improvement and expansion of the consumer market.
According to reports, the Guangxi Finance Department coordinated the central government's ultra-long-term special government bond funds and the autonomous region's supporting funds of 7.2 billion yuan to implement the trade-in of bulk commodities such as automobiles, home appliances, and digital products, and combined the consumption characteristics of Guangxi with 9 types of smart sweepers, household integrated stoves, etc. Energy home appliances and home products were included in the scope of subsidies; policy dividends were accelerated to sink to counties, and rural consumption potential was fully released. County participants accounted for 44.7%, and county home appliances and digital product sales revenue increased by 60.5% and 48.2% respectively.
As of the end of September, the trade-in policy had boosted product sales to over 37.19 billion yuan, with retail sales of wearable smart devices above designated size, first- and second-level energy efficiency home appliances, and smartphones increasing by 220%, 21%, and 10% respectively, effectively promoting consumption upgrades and quality improvements.
The Guangxi Finance Department also promoted the use of prize invoices to benefit the people and improve their quality, and supported Nanning City's success in being shortlisted as a pilot city for prize invoices and received a central government subsidy of 180 million yuan. The pilot activities cover eight major livelihood areas including retail, catering, accommodation, and cultural tourism, attracting a total of 11.7882 million consumers and 44,500 participating merchants. 10.2086 million valid invoices were approved, corresponding to a consumption amount of 5.235 billion yuan, and the sales in related fields increased by 29 times.
On this basis, the department coordinated 50 million yuan of funds at the autonomous region level to expand the pilot scope of rewarded invoices to the entire Guangxi region, further amplifying the effect of the policy and continuing to create a consumption atmosphere in which "enjoying benefits when issuing invoices and surprising consumption".
In order to promote the continuous release of consumption potential, the Guangxi Finance Department coordinated 1.14 billion yuan in funds at the autonomous region level and implemented precise policies focusing on key consumption scenarios. Specifically, the new budget supports a subsidy of 720 million yuan for new car purchases, and joint enterprises launch overlay profits to promote a steady recovery in car consumption. As of the end of September, more than 108,000 new car purchase subsidies had been applied for, driving car sales to 10.1 billion yuan. We coordinated RMB 123 million to support a series of consumption-steady growth activities such as the "33 Consumption Festival" and issued more than 5 million consumer coupons of various types, covering all scenarios of "food, accommodation, travel, shopping and entertainment". The district has held more than 2,000 consumption-promoting activities that integrate business, culture, tourism, and sports. During the May Day holiday, the passenger flow and turnover of business districts in 30 key blocks in the district increased by 11.7% and 9.2% respectively, and the festive consumption-driven effect was outstanding.
In the second half of this year, the Guangxi Finance Department has allocated an additional 297 million yuan in real estate consumption promotion funds, organized and carried out the "Good Houses, Happy Life" housing consumption promotion activities, and included the purchase of new houses, car spaces, and commercial offices into the scope of subsidies. Residents and families with multiple children enjoy the "top-up subsidy". So far, the fund application amount has reached 152 million yuan, benefiting 12,000 families; more than 9,600 people have applied for superimposed subsidies in the district, covering new citizens, first-time parents and families with multiple children, and newly graduated college students.
In addition, the Guangxi Finance Department has accelerated the upgrading of the market level, coordinating 500 million yuan in special funds for the development of the autonomous region's service industry and 100 million yuan in central service industry development funds. It has continued to focus on the key links of consumption boosting, industrial upgrading, and brand cultivation, guiding and supporting the expansion of service industry market entities, cultivating new consumption formats and new models, unblocking urban and rural circulation networks, and continuing to consolidate the industrial foundation for high-quality consumption development. Support Nanning City and Beihai City to make good use of central competitive project funds to promote the construction of pilot cities for a modern commercial circulation system and promote the improvement and expansion of convenient living circles within 15 minutes. The region has built more than 300 convenient living circles and continues to improve consumer service levels.
