“双贴息”政策落地利好 零售业发展

Group 1 - The core of the new policies is to stimulate consumption and activate the market through fiscal and financial collaboration, indicating the government's strong emphasis on the consumption sector [1][2] - The "Personal Consumption Loan Interest Subsidy Policy" allows consumers to enjoy interest subsidies on personal consumption loans used for specific categories, including electronics, home appliances, and healthcare, from September 1, 2025, to August 31, 2026 [1] - The "Service Industry Operating Entity Loan Interest Subsidy Policy" specifies that loans must be issued to service industry entities in eight sectors, including hospitality and cultural entertainment, with funds aimed at improving consumption infrastructure [2] Group 2 - The policies are expected to directly benefit the retail sector by encouraging consumers to take loans for large purchases, thus driving retail consumption growth [2][3] - The reduction in consumer credit costs is anticipated to increase average transaction values in supermarkets and appliance stores, while lower financing costs for retail businesses will enable them to enhance online delivery capabilities [3] - Companies are actively engaging with the market regarding the impact of these policies, with some exploring the integration of financial tools into their business models to leverage the benefits of the subsidy policies [3][4] Group 3 - Retail companies are advised to capitalize on policy benefits by collaborating with financial institutions to create linked products that lower consumer barriers, while also upgrading their operations and supply chains [4] - Emphasis is placed on accelerating digital transformation and innovating retail experiences to enhance service quality and sales during the policy window [4]