According to data from the Ministry of Commerce, as of February 19th, 169000 scrapped cars have been updated nationwide, and over 3.97 million consumers have purchased over 4.87 million units of old to new home appliances. Over 26.71 million consumers have applied for purchase subsidies for mobile phones, tablets, smart watches, and wristbands, fully demonstrating the significant effectiveness of the "two new" policies in stimulating new consumption momentum. The 2024 Central Economic Work Conference proposed the strategic deployment of "vigorously boosting consumption" and making efforts to expand the implementation of the "two new" policies. At the beginning of this year, the National Development and Reform Commission and the Ministry of Finance jointly issued a notice on the implementation of large-scale equipment updates and consumer goods trade in policies by 2025, expanding the scope of subsidies for scrapped cars, enriching the category of household appliances trade in, and for the first time implementing purchase subsidies for three types of digital products, including mobile phones, tablets, and smart watches and bracelets, providing important traction and guarantee for the effectiveness of the "two new" policy. Since the implementation of the "Two New" policies, various regions have adapted to local conditions, innovated work methods, and formed many noteworthy highlights. Firstly, relying on developed e-commerce platforms and a comprehensive digital service system, consumers from all over the country can quickly and conveniently enjoy various discounts provided by the "two new" policies for expanding the market. According to data from top e-commerce platforms, the transaction volume of mobile phone categories increased by over 50% year-on-year in the three days before the Spring Festival in 2025. During the Spring Festival, dishwasher sales surged by 460% year-on-year, and disinfection cabinets surged by over 980%. Secondly, the wave of exchanging old for new consumption is equally enthusiastic in many small and medium-sized cities and rural areas, such as Xiangtan County in Hunan Province and Qixian County in Henan Province, which have explored the model of "government setting up platforms, enterprises singing opera, and people benefiting" and achieved good results. Three regions should adapt to local conditions and innovate governance. For example, Sichuan Province has added six types of household appliances to the scope of trade in subsidies on top of national subsidies; Jiangsu Province, based on the actual development of agriculture, has selected some agricultural machinery for filing and expanded the scope of subsidies for scrapping and updating old agricultural machinery. The "two new" policies have not only boosted consumption, but also promoted the formation of strong momentum for green transformation and industrial upgrading. Under policy guidance and impetus, the sales of high value-added goods represented by new energy vehicles, green home appliances, and intelligent digital products continue to rise. In the trade in of old household appliances, the sales of first level energy-efficient products account for over 90%. Driven by the upgrading of consumer demand, there is a clear trend of transformation and development on the supply side. Many well-known home appliance manufacturers are accelerating their green and low-carbon transformation, and many new energy vehicle companies are focusing on improving their product intelligence levels, fully reflecting the strong driving force of consumption on the supply side under policy guidance. In terms of finance, the extra long term special treasury bond funds have laid a solid foundation for the implementation of the "two new" policies, directly reduced consumer purchase costs and the pressure on enterprises to advance funds, and successfully released consumption potential. At the same time, the central government has allocated the first batch of funds of 81 billion yuan for the trade in of consumer goods in January 2025, effectively ensuring the continuity and stability of policy implementation. In the financial sector, the combination of refinancing policy tools and innovation in consumer finance, green finance, and inclusive finance products has strengthened the influence and sustainability of policy implementation. The market mechanism is a key link in transforming policy dividends into consumption trends. By actively responding to national policy guidelines, accurately identifying and tracking consumer preferences, market entities launch a rich and diverse range of products and services to meet consumers' multi-level needs, and achieve high-speed transformation of economic benefits. The precise investment of central government funds, strong support from the financial system, and deep participation of market entities have jointly provided a solid guarantee for the strengthening and expansion of the "two new" policies, fully activating new consumption drivers. Currently, the "two new" policies, which have been strengthened and expanded, are becoming a key lever to tap into consumer potential due to their systematic advantages of wide scope, fast implementation, and multiple participation. The in-depth implementation of policies not only effectively unblocks the supply and demand sides, but also enhances the implementation effect of policy dividends through continuous optimization of processes and improvement of mechanisms, leading the consumer market to accelerate towards green and intelligent direction. In the future, to fully tap into the potential of policies, it is necessary to build flexible and diverse publicity channels, continuously strengthen cross departmental information connectivity and sharing, and streamline and standardize the subsidy application process; At the same time, we will accelerate the improvement of the fund pre allocation and real-time clearing system, focus on enhancing regulatory efficiency and policy coordination, ensure that the "two new" policies are strengthened and expanded to benefit the people and enterprises, and help optimize the economic structure and promote high-quality development. Consumption is one of the "three pillars" driving economic growth and an important engine for promoting economic circulation and achieving high-quality development. The "two new" policies not only effectively enhance consumers' sense of gain and happiness, but also drive industrial innovation and upgrading and green transformation through product iteration, demonstrating multidimensional positive benefits. Riding on the strong momentum of the "two new" policies to strengthen and expand the market, the Chinese consumer market is revitalizing and moving towards a more dynamic and sustainable future. (New Society)