2026年，“国补”将继续

Core Viewpoint - The continuation of the "national subsidy" policy for consumer goods trade-in is confirmed for the upcoming year, aimed at stimulating consumption and investment growth [1][2]. Group 1: Policy Implementation - The "Two New" policy focuses on large-scale equipment updates and consumer goods trade-in, significantly impacting ordinary consumers [2]. - The government plans to increase the funding scale for the "Two New" policy to 500 billion yuan by 2025, with 300 billion yuan allocated for consumer goods trade-in, marking a 150 billion yuan increase from the previous year [2]. - The policy has shown significant effectiveness in promoting consumption, expanding investment, stabilizing growth, and improving living standards [2][5]. Group 2: Economic Impact - The "Two New" policy has been a strong driver for expanding domestic demand, with consumer goods trade-in generating over 2.5 trillion yuan in sales and benefiting more than 360 million people from January to November this year [5]. - The trade-in of automobiles exceeded 11.2 million units, while home appliances saw over 12.8 million units traded in, indicating a robust market response [5]. - The policy has also contributed to a 31.2% year-on-year increase in new energy vehicle sales, reflecting ongoing industrial vitality [5]. Group 3: Future Directions - The Ministry of Finance has emphasized optimizing the implementation of the "Two New" policy, including the use of personal consumption loans and service industry loans to support consumption [6]. - The 2025 consumer goods trade-in policy will expand to include additional categories such as smartphones and various home appliances, enhancing the scope of subsidies [7]. - Future adjustments to the policy may include expanding subsidies to the service consumption sector to further stimulate consumer demand and economic growth [7].