二〇二六年 “国补”将继续

Core Viewpoint - The continuation of the "national subsidy" policy for large-scale equipment updates and consumer goods trade-in programs is confirmed for 2026, aimed at stimulating consumption and investment growth in the economy [2][3]. Group 1: Policy Implementation - The central economic work conference emphasized the optimization of the "two new" policies, which include large-scale equipment updates and consumer goods trade-in programs [2][5]. - The Ministry of Finance plans to utilize various government bond funds and issue ultra-long-term special bonds to support these initiatives [2][3]. - The scale of funding for the "two new" policies will increase to 500 billion yuan in 2025, with 300 billion yuan allocated for consumer goods trade-in, marking a 150 billion yuan increase from the previous year [3]. Group 2: Economic Impact - The "two new" policies have significantly contributed to consumption, investment, and economic stability, promoting high-quality development [3][4]. - In the first three quarters, investment in equipment and tools increased by 14% year-on-year, contributing 2 percentage points to overall investment growth [4]. - The consumer goods trade-in program has driven sales exceeding 2.5 trillion yuan, benefiting over 360 million people, with notable increases in the trade-in of automobiles and home appliances [6]. Group 3: Future Directions - The "national subsidy" policy will continue to evolve, with new categories of products added to the trade-in program, including digital devices and various home appliances [8]. - The implementation of personal consumption loans and service industry loans will be supported to enhance consumer demand and service supply [8]. - Future optimization of the "two new" policies may include expanding subsidies to the service consumption sector to further stimulate economic growth [8].