把“国补”资金用在刀刃上 让消费者更“有感”

Core Insights - The implementation of policies to boost consumption is receiving significant attention, with a focus on ensuring that consumers feel the impact and that domestic demand is effectively stimulated [1][2] Group 1: Policy Implementation - The government plans to continue its proactive fiscal policy in 2026, emphasizing the importance of domestic demand and the construction of a strong domestic market as a key focus area [2] - The "old-for-new" consumption policy has shown significant results, with sales exceeding 2.6 trillion yuan and benefiting over 360 million people in 2025 [1][2] - The retail sales of consumer goods increased by 4% year-on-year in the first eleven months of 2025, with the "old-for-new" policy contributing over 1 percentage point to this growth [1] Group 2: Financial Coordination - The government is optimizing the "old-for-new" policy by refining the support scope, subsidy standards, and implementation mechanisms to enhance efficiency and effectiveness [2][3] - A total of 625 billion yuan in special long-term bonds has been allocated to support the "old-for-new" policy, aimed at meeting consumer demand during peak seasons like New Year and Spring Festival [4] - The coordination between fiscal and monetary policies is crucial, with measures such as personal consumption loans and service industry loan interest subsidies being implemented to stimulate consumption from both demand and supply sides [4][5]