On July 23, Yang Mu, director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said at the press conference of the State Information Office that since this year, the consumer goods trade-in policy has stabilized the basic market. The investment leverage ratio has increased from 1:7.8 last year to the current 1:10.3, driving sales to more than 1.25 trillion yuan, benefiting 169 million people, strongly supporting steady consumption growth, promoting industrial upgrading and development, and driving resource recycling.

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