Shenzhen's old-for-new upgrade policy has been enhanced! Smart glasses are now included in the subsidy program

Shenzhen’s consumer goods old-for-new policy has undergone significant adjustments. The Shenzhen Development and Reform Commission, Shenzhen Finance Bureau, and Shenzhen Commerce Bureau issued the “Implementation Plan for Supporting Consumption Upgrading and Efficiency Enhancement with Ultra-Long-Term Special National Debt Funds in Shenzhen (2026)” (hereinafter referred to as the “Plan”).

The key change is: up to 12% subsidy on vehicle prices for new energy vehicles; the home appliance subsidy categories have been reduced to six types, with only first-tier energy efficiency products enjoying a 15% subsidy; digital products now include smart glasses, maintaining a cap of 500 yuan per item. Additionally, the support scope has been specially expanded to include “purchase of other smart products.”

The Shenzhen Development and Reform Commission states that by the end of 2026, the goal is to facilitate the scrapping and renewal of approximately 35,000 vehicles, about 180,000 vehicle replacements, around 1.8 million old home appliances replaced, approximately 4 million new smartphones, tablets, smartwatches, wristbands, and smart glasses purchased, about 1.5 million smart home products (including aging-friendly products), and around 2 million other smart products supported for new purchase, continuously stimulating market consumption vitality.

Source: Official website of Shenzhen Development and Reform Commission

Maximum subsidy of 20,000 yuan for new purchases

The “Plan” indicates that the support scope includes vehicle scrapping and renewal, vehicle replacement, old-for-new home appliances, digital and smart products, and within the national policy framework, support for other smart products.

For vehicle scrapping and renewal, the “Plan” clarifies that individual consumers registering their passenger cars for scrapping and purchasing new energy vehicles listed in the “Catalog of New Energy Vehicle Models Exempt from Vehicle Purchase Tax” or fuel vehicles with a displacement of 2.0 liters or less will receive subsidies. Specifically, a subsidy of 12% of the vehicle price (up to 20,000 yuan) for new energy vehicles, and 10% (up to 15,000 yuan) for fuel vehicles with 2.0L or less displacement.

For vehicle replacement support, the “Plan” states that individual consumers transferring their registered passenger cars and purchasing new energy vehicles listed in the “Catalog of New Energy Vehicle Models Exempt from Vehicle Purchase Tax” or fuel vehicles with 2.0L or less displacement will receive subsidies. Specifically, 8% of the vehicle price (up to 15,000 yuan) for new energy vehicles, and 6% (up to 13,000 yuan) for fuel vehicles with 2.0L or less displacement.

For home appliances, the “Plan” specifies that consumers purchasing one of six categories of appliances—refrigerators, washing machines, TVs, air conditioners, computers, water heaters—that meet first-tier energy or water efficiency standards will receive a subsidy of 15% of the product’s sale price. Each consumer can get one subsidy per category, with a maximum of 1,500 yuan per item.

For digital and smart products, the “Plan” states that consumers purchasing smartphones, tablets, smartwatches, wristbands, and smart glasses (each priced no more than 6,000 yuan) will receive a 15% subsidy of the sale price. Each consumer can get one subsidy per category, with a maximum of 500 yuan per item. Support for new smart home products (including aging-friendly products) will be determined by the Shenzhen Commerce Bureau based on local product advantages and in accordance with national and provincial guidance.

Finally, support for other smart products outside the categories listed in item (4) within the old-for-new policy framework will be determined by the Shenzhen Commerce Bureau, based on local product advantages and national and provincial guidance, allowing flexibility for additional smart products.

From “Intensified Expansion” to “Quality and Efficiency Improvement”

Overall, compared to the “2025 Support Plan for Consumption Upgrading with Extended Support from the Shenzhen Ultra-Long-Term Special National Debt,” this year’s “Plan” continues the existing policy framework but emphasizes “quality and efficiency enhancement.”

The 2025 plan focused on “expanding support,” mainly enlarging subsidy categories and increasing support intensity to quickly respond to market needs. It covered nine areas: vehicle scrapping and renewal, passenger car replacement for consumers, home appliance upgrades, digital products like mobile phones, home renovation upgrades, electric bicycle replacements, old commercial trucks scrapping, new energy buses, and power battery updates, as well as agricultural machinery scrapping.

This year, the “Plan” refines resource allocation toward high-value-added sectors, mainly focusing on automobiles, home appliances, and digital and smart products, with other areas no longer highlighted separately. It also optimizes subsidy calculation methods.

In the home appliance sector, the subsidy categories have been narrowed to six core household appliances. The subsidy threshold has been significantly raised, now only supporting products meeting first-tier energy or water efficiency standards, excluding second-tier products. The subsidy rate remains at 15% of the sale price, with a maximum of 1,500 yuan per item, one item per category per consumer.

Notably, the “Plan” expands digital products from three categories—phones, tablets, smartwatches/wristbands—to four, adding smart glasses. It also explicitly supports “other smart products” for new purchases, reserving policy flexibility for additional products not specifically listed.

Regarding funding management, the “Plan” stipulates that funds must be allocated according to the national 85:15 ratio for ultra-long-term special national debt funds and municipal fiscal funds, ensuring timely disbursement and monitoring. It emphasizes a “slower to supplement faster” approach, with quarterly overall control of funding amounts, first-come-first-served, and spending until exhausted.