持续支持、优化实施大规模设备更新和消费品以旧换新——二〇二六年，“国补”将继续

Core Viewpoint - The continuation of the "national subsidy" policy for consumer goods trade-in is confirmed, aimed at stimulating consumption and investment, and supporting economic growth in 2024 [3][4]. Group 1: Policy Implementation - The "Two New" policy focuses on large-scale equipment updates and consumer goods trade-in, significantly impacting consumers, particularly in sectors like automobiles and home appliances [4][6]. - The 2025 plan includes an increase in special long-term bonds to support the "Two New" initiatives, with a total funding of 500 billion yuan, of which 300 billion yuan is allocated for consumer goods trade-in, marking a 150 billion yuan increase from the previous year [4][5]. - The policy has shown significant effectiveness in promoting consumption, investment, and structural adjustments, contributing to high-quality development [4][8]. Group 2: Economic Impact - The "Two New" policy is seen as a powerful tool for expanding domestic demand, with trade-in programs generating over 2.5 trillion yuan in sales and benefiting more than 360 million people from January to November this year [7][8]. - The trade-in of automobiles exceeded 11.2 million units, while home appliances saw over 12.8 million units traded in, indicating strong consumer engagement [7]. - The policy has also facilitated a shift towards smart appliances and electric vehicles, with a 31.2% year-on-year increase in new energy vehicle sales [8]. Group 3: Future Directions - The upcoming implementation of the "national subsidy" policy will include new categories for trade-in, such as smartphones and various home appliances, expanding the scope of consumer goods eligible for subsidies [9]. - The government plans to enhance financing support through personal consumption loans and service industry loans, aiming to meet diverse consumer needs [9]. - Future adjustments to the "Two New" policy may include expanding subsidies to service consumption, further stimulating economic growth [9].