第三批消费品以旧换新资金将于7月下达，聚焦政策提振下的消费板块

Group 1 - The Hang Seng Index fell by 0.48% and the Hang Seng Tech Index remained flat as of midday on June 26, with the Hong Kong consumer sector experiencing continued fluctuations [1] - The National Development and Reform Commission (NDRC) announced that it will issue the third batch of subsidies for the replacement of consumer goods in July, emphasizing a focus on sustainability and balance in the implementation of the policy throughout the year [1] - Huatai Securities noted that the 300 billion yuan subsidy for the replacement program represents approximately 0.5% of the total disposable income and 0.7% of the total retail sales of consumer goods for the year 2024, potentially boosting the growth rate of retail sales by about 1 percentage point if certain conditions are met [1] Group 2 - Huajin Securities highlighted that the issuance of guidelines for financial support to boost and expand consumption provides strong backing for the investment value of the consumer sector, with a focus on enhancing credit support and diversifying financing channels [1] - Popular ETFs related to the consumer sector include the Food and Beverage ETF (515170), which focuses on core assets in the food and beverage sector, and the Consumption 30 ETF (510630), which covers various sub-sectors such as liquor, food, beauty care, and biotechnology [2]