Core Viewpoint - The implementation of the "Two New" policy has significantly boosted investment and consumption, contributing to China's high-quality economic development and enhancing macroeconomic stability [1][2]. Investment Growth - In 2025, over 8,400 equipment update projects will be supported by long-term special government bond funds, driving total investment exceeding 1 trillion yuan, which will support a year-on-year increase of 11.8% in equipment and tool purchases, contributing 1.8 percentage points to overall investment growth [2]. Consumption Enhancement - More than 360 million people have applied for subsidies under the consumption goods replacement program, leading to sales exceeding 2.6 trillion yuan and directly boosting the retail sales of consumer goods by 0.6 percentage points [2]. Green Transition - Since the implementation of the "Two New" policy, a recycling and reuse system has been rapidly improved, with over 29,000 new smart community recycling facilities established. Energy-saving and carbon reduction standards have been steadily enhanced, with all 294 national standards related to energy consumption and emissions published. Nearly 60% of purchased vehicles are new energy vehicles, and over 90% of household appliances meet first-level energy efficiency and water efficiency standards. Cumulatively, the policy has resulted in energy savings of over 69 million tons of standard coal and a reduction of over 17 million tons of carbon emissions [2]. Policy Optimization for 2026 - The 2026 "Two New" policy has optimized the support scope and subsidy standards, with the first batch of 62.5 billion yuan in special government bonds allocated for the consumption goods replacement program, ensuring a smooth transition and orderly implementation of the policy [2][3]. Equipment Update Measures - To enhance the effectiveness of equipment updates, the policy will lower investment thresholds, strengthen project review standards, and improve management responsibilities to increase funding efficiency [2][3]. Consumption Goods Replacement Measures - The policy will optimize fund allocation based on consumption potential and execution status, implement unified subsidy standards nationwide, and ensure balanced fund usage to alleviate financial pressure on enterprises [3].
国家发改委:骗补套补、“先涨后补”等行为,发现一起、查处一起、曝光一起、打击一起
Xin Jing Bao·2026-01-20 05:07