2026年“国补”继续

Core Viewpoint - The "National Consumption Upgrade" policy, aimed at boosting consumer spending through subsidies for replacing old products, will continue into 2026 with adjustments to its scope and standards to enhance its effectiveness [1][2]. Group 1: Policy Evolution - The "National Consumption Upgrade" policy originated during the 2008 global financial crisis to stimulate consumption by providing subsidies for major consumer goods, focusing on rapid market activation [1]. - The 2024 reintroduction of the policy marks a shift from a short-term emergency response to a long-term empowerment strategy, with three major upgrades compared to earlier versions [2]. Group 2: Coverage and Standards - The coverage of the policy will expand from a single category to multiple scenarios, including automotive scrappage and eight categories of home appliances in 2024, and further extending to "all-scenario quality consumption" in 2025 [2][3]. - Subsidy standards will transition from a uniform approach to a differentiated optimization, with increased subsidies for electric vehicles and fuel vehicles to encourage green consumption [2][3]. Group 3: Funding Mechanism - Funding for the policy will shift from annual budgets to long-term special government bonds, with allocations increasing from 150 billion yuan in 2024 to 300 billion yuan in 2025, providing stable support for the policy's sustainability [2][3]. - The systematic design of "coverage-standards-funding" will transform the policy from an emergency stimulus tool to a normalized consumption promotion mechanism [3]. Group 4: Challenges and Recommendations - Despite the policy's effectiveness, challenges such as regional protectionism and cumbersome application processes may hinder its universal benefits, particularly for older consumers [4][5]. - To enhance the policy's impact, it is recommended to refine coverage, standard design, and supporting mechanisms, ensuring a precise and sustainable policy framework [5].