Major bank rating丨BOCOM INTL: It is expected that the revenue growth Range of mainland e-commerce platforms will be between 8% and 14% this year.

BOCOM INTL published a report indicating that yesterday the National Development and Reform Commission and the Ministry of Finance released the "Notice on Implementing Large-scale Equipment Renewal and Consumer Goods Replacement Policies by 2025", expanding the 8 categories of household appliances in the consumer goods market for 2024 to 12 categories. In the first quarter of this year, according to the press conference, considering the consumer demand during the New Year's Day and Spring Festival, a subsidy fund of 81 billion yuan for old-for-new consumer goods has already been allocated. Compared to last year's 50 billion yuan/20% subsidy ratio for household appliances, it is expected that the first quarter will drive the sales of household appliances, digital products, and other categories to exceed 150 billion yuan, compared to the retail sales of communication equipment in the first quarter of 2024.

Gelonghui Finance02:01 ET

[Brokerage Focus] BOCOM INTL expects the revenue growth Range of e-commerce platforms to be between 8-14% in 2025.

Jinwu Financial News | BOCOM INTL stated that on January 8, the National Development and Reform Commission and the Ministry of Finance issued a notice regarding the "Implementation of Large-Scale Equipment Renewal and Consumer Product Replacement Policies by 2025". This expands the 8 major categories of consumer electronics in the 2024 consumer goods market to 12 categories and implements a 15% subsidy for mobile digital products. The bank indicated that the press conference introduced the consideration of consumption demand during the New Year and Spring Festival, and has already allocated 81 billion yuan for the consumer product replacement subsidy. The bank expects that in the first quarter, this could drive sales of home appliances and digital products to exceed 150 billion yuan, estimating that the subsidy will lead to approximately 31 billion yuan in sales on Tmall and JD.com for home appliances and digital products respectively.

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