促消费再加力！两项贷款贴息政策优化

Core Viewpoint - The Ministry of Finance and other departments have announced the extension and optimization of the personal consumption loan interest subsidy policy until the end of 2026, aiming to boost consumer spending and support the service industry amid increasing external uncertainties [1][3]. Group 1: Policy Adjustments - The implementation period for the personal consumption loan interest subsidy policy has been extended to December 31, 2026, with the new effective period from September 1, 2025, to December 31, 2026 [1]. - The scope of support has been expanded to include credit card installment payments, with an annual interest subsidy rate of 1% [2]. - Restrictions on consumption areas have been lifted, allowing residents to enjoy subsidies for various types of consumption using personal loans and credit card installments, subject to verification by the lending institutions [2]. Group 2: Subsidy Standards - The subsidy standard has been improved by removing the previous cap of 500 yuan on single transaction subsidies and the 1,000 yuan limit on cumulative subsidies for individual borrowers at a single institution [2]. - The annual cumulative subsidy limit of 3,000 yuan per borrower at a single institution remains unchanged [2]. Group 3: Economic Context - The service industry is identified as a crucial driver for boosting consumption, with service consumption expenditure projected to grow at an average annual rate of 9.6% from 2020 to 2024 [4]. - In the first 11 months of 2025, service retail sales increased by 5.4%, indicating strong performance in areas such as travel and entertainment [4]. - The interest subsidy policy is seen as a targeted correction to address the structural imbalance of "strong production, weak demand," helping to restore cash flow and balance sheets in the service sector [4].