中央定调，明年消费品以旧换新“国补”继续

Group 1 - The Central Economic Work Conference emphasized the need to maintain stability while seeking progress, enhance quality and efficiency, and continue implementing a more proactive fiscal policy and moderately loose monetary policy to expand domestic demand and optimize supply [1] - The conference highlighted the implementation of the "Two New" policies, which include large-scale equipment upgrades and the trade-in policy for consumer goods, with a specific focus on the latter, known as "national subsidies" [1] - The "national subsidies" policy will continue to be implemented until 2026, indicating ongoing support for consumer goods trade-in initiatives [1] Group 2 - In 2024 and 2025, China issued special long-term bonds of 150 billion and 300 billion yuan respectively to fund the trade-in policy for consumer goods, expanding the range of eligible products in 2025 to include digital and household appliances [4] - From January to November this year, the trade-in policy has driven sales of related goods to exceed 2.5 trillion yuan, benefiting over 360 million people, with over 11.2 million vehicles traded in [4] - The automotive industry saw sales of 27.687 million vehicles from January to October, a year-on-year increase of over 10%, with new energy vehicle sales reaching 12.943 million, a growth of 32.7%, demonstrating the significant impact of the subsidy policy on automotive consumption [4] Group 3 - Starting from January 1, 2026, a new policy will halve the vehicle purchase tax for new energy vehicles, with a maximum tax reduction of 15,000 yuan per vehicle [5] - New technical requirements for plug-in hybrid vehicles will be implemented in 2026, mandating a minimum electric range of 100 kilometers, which is a significant increase from the current requirement of 43 kilometers, potentially leading to some models being phased out [5]