宏观纵览 | 财政部答一财：以更大力度激发民间投资

Core Viewpoint - The State Council has initiated a comprehensive policy package aimed at promoting domestic demand through fiscal and financial collaboration, focusing on stimulating private investment and enhancing consumer spending [2][3]. Group 1: Policy Overview - The policy package includes six key measures: optimization of personal consumption loan interest subsidies, implementation of a special guarantee plan for private investment, and interest subsidies for loans to small and micro enterprises [2][3]. - The fiscal expenditures required for these policies have been adequately planned in the 2026 budget, allowing local and managing institutions to actively engage in business [2][3]. Group 2: Key Objectives and Principles - The primary goal is to "expand domestic demand," aligning with the central economic work conference's directives [3]. - The two main focuses are to "stimulate private investment" and "promote consumer spending," both critical components of domestic demand [3]. - The three guiding principles for execution are: 1. "Convenient and efficient" processes to simplify procedures and ensure direct benefits [3]. 2. "Precise and effective" targeting of key sectors and groups to lower financing costs and enhance consumer capacity [3]. 3. "Standardized and efficient" management to balance efficiency with regulatory compliance [3]. Group 3: Specific Policies - The six policies include four supporting private investment and two aimed at boosting consumption [3]. - The interest subsidy for loans to small and micro enterprises is set at 1.5% of the total loan amount, with a maximum loan limit of 50 million yuan and a subsidy period of up to two years [3][4]. - The special guarantee plan for private enterprises allows eligible small and micro enterprises to access loans up to 20 million yuan for various operational needs [4]. - The updated equipment loan interest subsidy policy expands the scope to include fixed asset loans related to equipment updates and technology innovation, with similar subsidy terms [4]. - The service industry loan interest subsidy policy increases the single loan limit from 1 million yuan to 10 million yuan, with a 1% subsidy for one year [5]. - The personal consumption loan interest subsidy policy now includes credit card installment payments, with a 1% subsidy for loans used for consumption [5].