消费贷财政贴息政策持续落地：双11超千万商品可享花呗分期免息

Core Insights - The implementation of the "Personal Consumption Loan Fiscal Subsidy Policy" is actively taking place, with e-commerce platforms like Taobao and Tmall launching a "National Subsidy" product section for the upcoming Double 11 shopping festival [1][6] - The number of products eligible for interest-free installment payments has reached millions, with a 60% increase in the coverage of high-instalment products [3][5] - Merchants are responding positively to the subsidy policy, enhancing their own interest-free offerings to stimulate consumer spending [4][5] Group 1: Policy Implementation - The "National Subsidy" section allows consumers to enjoy interest-free installment payments when purchasing designated products using Huabei [1][3] - Since the policy's launch on September 1, merchants have been actively providing additional interest subsidies, resulting in a comprehensive interest-free installment option for consumers [1][3] Group 2: Consumer Benefits - Consumers can now access more interest-free benefits than before, with previously unsupported products now eligible for installment payments [3][4] - For example, a refrigerator priced at 4246 yuan can benefit from a 849.2 yuan subsidy and be paid in 12 interest-free installments of 283 yuan each [3] Group 3: Merchant Response - Merchants have seen significant sales increases, with an average sales boost of 30% for subsidized products and a 15% increase in overall store sales [5][6] - Major brands like Vivo and Langzi have increased their interest-free product offerings and extended the duration of interest-free payments, reflecting confidence in the policy's impact on sales [5][6] Group 4: Economic Impact - The fiscal subsidy policy aims to stimulate market activity and consumer spending without relying solely on credit expansion, focusing on targeted financial support [6] - The combination of government subsidies, financial support, and merchant discounts is expected to create a sustainable growth engine for consumer spending, benefiting consumers, merchants, and overall domestic demand [6]