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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.
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