早新闻｜超长期特别国债提前下达

Macro Highlights - The implementation regulations for the Value-Added Tax Law of the People's Republic of China will take effect on January 1, 2026, aiming to improve tax incentives and clarify the standards for various VAT exemption projects [1] - The National Development and Reform Commission and the Ministry of Finance have issued a notice regarding the large-scale equipment update and old-for-new consumption policy to be implemented in 2026, detailing the support scope, subsidy standards, and work requirements [1] Subsidy Policies - Consumers purchasing energy-efficient home appliances such as refrigerators, washing machines, televisions, air conditioners, computers, and water heaters will receive a subsidy of 15% of the product price, capped at 1,500 yuan per item [2] - For digital and smart products like smartphones and smartwatches, a similar subsidy of 15% applies, with a maximum of 500 yuan per item [2] - Consumers who scrap their personal vehicles and purchase new energy vehicles or fuel vehicles with a displacement of 2.0 liters or less will receive subsidies of 12% (up to 20,000 yuan) and 10% (up to 15,000 yuan) respectively [2] Housing Tax Policy - Individuals selling homes purchased for less than two years will be subject to a 3% VAT, while those selling homes purchased for two years or more will be exempt from VAT starting January 1, 2026 [2] Special Bonds and Consumption Support - The National Development and Reform Commission and the Ministry of Finance have allocated 62.5 billion yuan in special bonds to support the old-for-new consumption policy, ensuring a smooth implementation and monitoring of subsidy funds [3] Automotive Industry Digital Transformation - A digital transformation implementation plan for the automotive industry aims to enhance smart manufacturing capabilities and digital levels of enterprises by 2027, with significant improvements in digital public service systems by 2030 [4] Company News - Zijin Mining expects a net profit increase of approximately 59%-62% for 2025 [5] - Tianpu Co., Ltd. has seen its stock price rise by 718.39% from August 22 to December 30, leading to a suspension for verification [5] - Daye Co., Ltd. has not yet achieved substantial revenue from its robotic tendon products, which are not in mass production [5] - Longjiang Power plans to distribute 2.1 yuan per 10 shares as a profit distribution for the first half of 2025 [5] - Zhejiang Rongtai intends to issue H-shares and list on the main board of the Hong Kong Stock Exchange [5]