保民生、促消费，财政政策持续加码

Group 1 - The recent fiscal policies aim to invest more in people's livelihoods and stimulate consumption to stabilize the economy [2][3] - Starting from January 1, 2025, a monthly subsidy of 300 yuan will be provided for each child under three years old, benefiting over 28 million infants, with a total potential subsidy of up to 10,800 yuan per newborn over three years [2] - The implementation of free preschool education for kindergarten seniors will begin in the fall semester of 2025, directly benefiting around 12 million children, with an estimated increase in fiscal expenditure of approximately 400 billion yuan annually [2][3] Group 2 - The basic pension for retirees has increased by 2%, benefiting about 150 million retired individuals [4] - A total of 3 trillion yuan in special long-term bonds will be allocated in four batches to support consumption, with 690 billion yuan allocated in July and another 690 billion yuan planned for October [4] - The introduction of personal consumption loan interest subsidies and service industry loan interest subsidies aims to reduce credit costs for residents and businesses, thereby promoting consumption and economic circulation [8][9] Group 3 - The personal consumption loan interest subsidy is capped at 3,000 yuan, while the service industry loan interest subsidy is capped at 10,000 yuan, reflecting the government's emphasis on expanding consumption [8][9] - As of July 16, 2025, approximately 280 million people have applied for the consumption subsidy, leading to sales exceeding 1.6 trillion yuan [8] - The interest subsidy policies are expected to leverage fiscal funds effectively, enhancing the efficiency of fiscal spending and stimulating both demand and supply in the economy [9][10]