中央定调明年继续“国补”，具体政策或有所优化

Group 1 - The central economic work conference held in Beijing on December 10-11 outlined the economic work for 2026, emphasizing the need to optimize the implementation of the "two new" policies, which include large-scale equipment updates and the consumer goods trade-in policy [1] - The consumer goods trade-in policy, referred to as "national subsidies," will continue in 2026 with optimized specifics, indicating ongoing government support for consumer spending [1] - In 2024, China issued 150 billion yuan in long-term special government bonds for the consumer goods trade-in program, which increased to 300 billion yuan in 2025, doubling the subsidy amount from the previous year [3] Group 2 - The scope of the "national subsidies" policy is expanding in 2025 to include new categories such as smartphones, tablets, smartwatches, and various home appliances, enhancing the program's reach [3] - From January to November this year, the consumer goods trade-in program generated over 2.5 trillion yuan in sales, benefiting more than 360 million people, with significant contributions from the automotive and home appliance sectors [3] - Experts suggest that the subsidy amount for 2026 may see a moderate increase from 2025, with a focus on optimizing funding allocation to boost service consumption and further stimulate economic growth [3]