Zheng Quan Ri Bao·2025-08-03 16:13Core Viewpoint - The implementation of personal consumption loan interest subsidy policy and service industry operating entity loan interest subsidy policy is a significant measure by the government to boost domestic demand, stimulate market vitality, and improve people's livelihoods [1][2]. Group 1: Policy Implementation - Several major state-owned banks have expressed their commitment to effectively implement the personal consumption loan and service industry loan interest subsidy policies [1]. - The subsidy policy aims to reduce the financing costs for residents and alleviate the financing pressure on service industry entities, thereby facilitating economic circulation and injecting strong momentum into the economic recovery [1][2]. Group 2: Economic Analysis - From a micro perspective, the direct subsidy of specific loan interest by fiscal funds lowers the credit threshold for residents purchasing large consumer goods, directly releasing consumption potential [2]. - The focus on the service industry rather than manufacturing in the subsidy policy addresses the current structural imbalance of "strong production, weak demand," helping to restore cash flow and balance sheets in the service sector [2]. - The policy combines fiscal "precise drip irrigation" and asymmetric monetary policy easing, significantly amplifying the effectiveness of fiscal funds and alleviating the current insufficient demand for real entity credit [2]. Group 3: Bank Responses - Major banks, such as Agricultural Bank and Construction Bank, have initiated various activities to support consumption and expand domestic demand, including promoting consumption upgrade programs and optimizing financial services [3][4]. - Agricultural Bank has developed a special action plan to support consumption upgrades and enhance financial service quality, while Construction Bank is actively participating in the distribution of national consumption subsidy funds [3][4]. - Banks are committed to simplifying application processes and ensuring that the subsidy policies are effectively transmitted to consumers and service industry entities [3][4].