Xin Hua Wang·2025-09-16 07:50Core Viewpoint - The implementation of two interest subsidy policies starting in September aims to stimulate consumer spending and support service industry operators, thereby activating the consumption "main engine" and releasing new growth momentum [2][4]. Consumer Side - The personal consumption loan interest subsidy policy allows consumers to save on loan interest, as demonstrated by a case where a consumer saved 2,000 yuan on interest for a 200,000 yuan loan for new furniture [3][4]. - The subsidy applies to personal consumption loans processed by 23 banks and consumer finance companies from September 1, 2025, to August 31, 2026, covering various categories including household appliances, automobiles, and education [4][6]. - The subsidy rate is set at 1 percentage point, approximately one-third of the current personal consumption loan interest rates [4]. Supply Side - The subsidy policy also benefits service industry operators, as illustrated by a case where a lodging operator saved 4,000 yuan in interest on a 365,000 yuan loan for business upgrades [8][9]. - The service industry loan interest subsidy policy, effective from March 16, 2025, to the end of that year, targets eight key consumption sectors, allowing for a maximum loan subsidy of 1 million yuan per entity [8][9]. - The policy aims to enhance the supply of high-quality services to meet diverse consumer demands [8]. Financial Collaboration - The combination of interest subsidy policies and other financial incentives, such as trade-in subsidies for consumer goods, is expected to create a synergistic effect, enhancing overall consumer demand and service supply [10][11]. - The collaboration between fiscal and financial policies is designed to leverage public funds and financial tools to stimulate more credit towards consumer sectors, thereby promoting economic circulation [10][11].