On June 23, at a press conference hosted by the State Council Information Office, Yang Mu, the Director of the Department of Market Operation and Consumption Promotion at the Ministry of Commerce, revealed that, as of June 22, trade-in initiatives aimed at boosting consumption had cumulatively spurred sales of related goods to hit the 5 trillion yuan mark, benefiting a staggering 630 million individuals. Notably, sales from automobile trade-ins contributed a substantial 63% to this total, playing a pivotal role in enhancing people's livelihoods, stimulating consumption, optimizing industrial structures, and fostering a circular economy. The automobile trade-in policy has provided cumulative support to over 21 million people in exchanging their old vehicles for new ones, with each vehicle receiving an average subsidy of 14,000 yuan. This initiative has not only invigorated the second-hand car market but also propelled the green and intelligent transformation of the automobile industry, while facilitating efficient resource recycling. Moving forward, the Ministry of Commerce is set to refine convenient services, enhance digital and intelligent capabilities, and elevate participation experiences to further improve the quality and efficiency of automobile trade-ins.