2026年“两新”“两重”政策将进一步加力扩围 “真金白银”扩内需促消费

Core Viewpoint - The Chinese government has announced an upgraded policy for the "old-for-new" consumption scheme for key consumer goods, including automobiles, home appliances, and digital products, aimed at enhancing quality and efficiency by 2026 [1][2]. Group 1: Automotive Sector - The 2026 policy will continue to implement subsidies for scrapping and replacing old vehicles, with a unified national subsidy based on a fixed percentage of the new car sales price [4]. - For scrapping old vehicles, consumers purchasing eligible new energy vehicles will receive a subsidy of 12% of the new car sales price, capped at 20,000 yuan; for scrapping fuel vehicles, the subsidy is 10%, capped at 15,000 yuan [4]. - The policy also includes subsidies for trade-ins, with 8% for new energy vehicles and 6% for fuel vehicles, with maximum subsidies of 15,000 yuan and 13,000 yuan respectively [4]. Group 2: Home Appliances and Digital Products - Starting January 1, 2026, consumers purchasing energy-efficient home appliances and certain digital products will receive a subsidy of 15% of the final sales price after discounts, limited to one item per category per person [6]. - The maximum subsidy for home appliances is 1,500 yuan per item, while for digital products, it is capped at 500 yuan [6]. Group 3: Equipment Upgrade Policies - The National Development and Reform Commission (NDRC) will continue to optimize equipment upgrade policies in 2026, expanding the coverage to 22 categories, which encompasses most industries [10]. - The NDRC aims to lower the investment threshold for project applications, allowing more small and medium-sized enterprises to access funding support [12]. - Enhanced regulatory measures will be implemented to ensure efficient use of funds and project quality, with a focus on comprehensive oversight of equipment upgrade projects [14]. Group 4: Investment in Infrastructure - The NDRC has announced a preliminary list of "two heavy" construction projects for 2026, with a total investment of approximately 295 billion yuan, focusing on urban infrastructure and logistics cost reduction [15]. - Over 75 billion yuan will be allocated to support 673 projects in urban renewal, water conservation, ecological restoration, and pollution control [18]. - The NDRC is also promoting "soft construction" initiatives to improve investment efficiency and project implementation [21].