定调！明年“国补”继续

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 known as "national subsidies" [1] - In 2024, China will issue 150 billion yuan in long-term special government bonds for the consumer goods trade-in program, referred to as "national subsidies," with a significant increase to 300 billion yuan in 2025, doubling the amount from 2024 [1] - The "national subsidies" policy will be further optimized in 2025, expanding the categories eligible for trade-in to include new digital products and various home appliances [1] Group 2 - From January to November this year, the consumer goods trade-in program has driven sales exceeding 2.5 trillion yuan, benefiting over 360 million people, with significant contributions from the automotive and home appliance sectors [2] - Experts suggest that the "national subsidies" amount for 2026 may see a moderate increase from 2025 levels, with a continued focus on optimizing funding allocation to enhance service consumption and further stimulate economic growth [2]