六部门发文！大消费再迎顶级政策催化，表态提高居民财产性收入

Group 1 - The People's Bank of China and five other departments issued guidelines to support and expand consumption, focusing on enhancing consumer capacity and financial supply in key areas such as goods and services [1] - The guidelines include 19 key measures aimed at stimulating consumer demand and improving consumption supply [1] - Financial institutions are encouraged to provide multi-channel services for old-for-new consumption, with increased credit support for recycling and upgrading essential goods [1] Group 2 - Huatai Securities noted that the "old-for-new" policy is expected to enhance quality and expand coverage, with significant fiscal support and subsidies [2] - In the first five months of 2025, the old-for-new program in five major categories generated sales of 1.1 trillion yuan, with approximately 175 million subsidies issued directly to consumers [2] - Retail sales of home appliances and other categories showed substantial year-on-year growth, indicating a positive demand response [2] Group 3 - Chongqing Department Store has a subsidiary focused on consumer finance [3] - New Beiyang is preparing products and solutions for digital RMB, including smart self-service retail and intelligent teller machines that support digital currency based on customer needs [3]