“两新”“两重”全年政策效果回顾

Core Viewpoint - The article emphasizes the importance of the "Two New" and "Two Major" projects in the current fiscal policy, highlighting the allocation of 1 trillion yuan in special long-term bonds to support these initiatives in 2023 [2][7][37] Summary by Sections "Two New" and "Two Major" Overview - "Two New" refers to "equipment updates" and "trade-in programs," while "Two Major" pertains to "national strategic implementation" and "key area safety capability construction" [3][7] - In 2023, 300 billion yuan was allocated for "Two New" and 700 billion yuan for "Two Major" projects [3] "Two New" Annual Review - Equipment Updates: - Investment of 150 billion yuan targeted at industrial equipment, energy equipment, environmental infrastructure, and more [3][9] - Estimated total investment supported by bond funds reached nearly 800 billion yuan, with a multiplier effect of 2.55 [3][10] - Automobile Trade-in Programs: - By December 9, over 5 million applications for trade-in subsidies were recorded, with an estimated subsidy investment of around 940 million yuan by year-end [12][13] - The program is projected to generate an additional demand of 240 billion yuan in sales, with a multiplier effect of 2.55 [13] - Home Appliance Trade-in Programs: - As of December 6, 2023, 29.6 million consumers purchased 45.85 million home appliances, leading to sales of approximately 201.97 billion yuan [29] - Estimated subsidy amount reached 506 million yuan by year-end, with a multiplier effect of 2.18 [30][36] "Two Major" Annual Review - The special bonds for "Two Major" projects amounted to 700 billion yuan, supporting 1,465 projects with an average funding of approximately 47.8 million yuan per project [4][37] - The focus on larger projects has led to a 7.1% year-on-year increase in planned investments of over 100 million yuan, outpacing overall investment growth [24] Detailed Sector Allocations for "Two Major" - Significant funding has been directed towards various sectors, including: - Public service systems for urbanizing agricultural migrants, with 292.1 billion yuan allocated [18] - High-standard farmland construction in Northeast China, receiving 596 million yuan [19] - Upgrading higher education, with 667 million yuan allocated [19] - Infrastructure projects such as the "Three North" project and urban renewal initiatives [17][27]