Recently, the Shenzhen Development and Reform Commission and Finance Bureau jointly released the "Implementation Plan for Ultra-Long-Term Special Treasury Bond Funds to Boost and Expand Consumer Goods Trade-In Programs in Shenzhen (2025)." The plan leverages ultra-long-term special treasury bond funds allocated by the central government to facilitate the trade-in of consumer goods, with a particular focus on the commercial vehicle sector. By the end of 2025, it aims to renew approximately 4,700 operational trucks and urban buses.

1

Promoting the Scrapping and Renewal of Aging Operational Trucks

1. Scope of Support: Building on the 2024 policy, the subsidy scope has been broadened to include operational trucks that meet the National IV emission standard. 2. Subsidy Standards: · For early scrapping of operational diesel trucks meeting National IV and lower emission standards, the average subsidy is 30,000 yuan per vehicle. · For early scrapping and new purchases of trucks meeting National VI emission standards or new energy trucks, the average subsidy is 80,000 yuan per vehicle. · For new purchases of solely new energy urban cold chain distribution trucks, the subsidy is 35,000 yuan per vehicle. 3. Application Conditions: Scrapping and new purchase procedures must be completed within the stipulated timeframe.

2

Supporting the Renewal of New Energy Buses and Power Batteries

1. Scope of Support: Scrapping urban buses aged 8 years and older, purchasing eligible new energy urban buses, and replacing entire sets of power batteries that have exceeded their warranty period. 2. Subsidy Standards: Corresponding subsidies will be provided, with specific standards referring to relevant notices from the Ministry of Transport. For reference, Shenzhen's 2024 subsidy plan offered an average of 80,000 yuan per vehicle for scrapping old vehicles and purchasing new energy buses, and 42,000 yuan per vehicle for replacing eligible new energy bus power batteries. 3. Application Conditions: Must adhere to relevant scrapping and renewal standards to ensure that renewed vehicles and batteries meet safety and environmental criteria.

In addition to the specific subsidy plan, Shenzhen has clarified the need to expedite fund review and disbursement, effectively optimizing the subsidy fund disbursement review process. For areas implementing subsidies through the "Instant Payment" model, based on applications from participating platforms and merchants, relevant subsidy funds for the previous month will be pre-disbursed at a rate not exceeding 90% of the advanced funds by the 10th of each month, significantly reducing corporate capital advances and operational pressures.

In sectors such as automobile scrapping and renewal, replacement and renewal, scrapping and renewal of aging operational trucks, renewal of new energy buses and power batteries, and trade-in of electric bicycles and agricultural machinery, the electronic issuance of certificates such as motor vehicle recycling certificates will be promoted, and a multi-department joint review and approval process will be implemented to minimize unnecessary approval levels and procedures. For those meeting the application conditions, subsidy applications will be summarized every 15 natural days (postponed in case of non-working days), with the review and subsidy fund disbursement completed within 20 working days. The automobile sector is required to complete the review and fund disbursement within 45 working days.