个人消费贷款财政贴息政策实施期限延长至2026年底，信用卡账单分期也能享受补贴

Core Viewpoint - The extension of the personal consumption loan interest subsidy policy until the end of 2026 and the inclusion of credit card installment payments in the subsidy scope are expected to enhance the policy's inclusiveness and stabilize long-term consumer expectations in the market [1][8]. Group 1: Policy Changes - The Ministry of Finance, the People's Bank of China, and the Financial Regulatory Bureau announced the optimization of the personal consumption loan interest subsidy policy, which now includes credit card installment payments and extends the implementation period to the end of 2026 [1][8]. - The previous policy, which limited the subsidy to a specific period from September 1, 2025, to August 31, 2026, and excluded credit card business, has been significantly upgraded [2][9]. Group 2: Market Impact - The inclusion of credit card installment payments indicates a shift in policy focus from large purchases to frequent daily consumption, aiming to activate overall demand rather than just specific sectors [2][10]. - This policy change is expected to effectively reach cardholders and stimulate consumption among younger and lower-tier market groups, aligning with new consumption trends such as entertainment and pet spending [2][10]. Group 3: Financial Institutions Involvement - The policy expansion includes a broader range of financial institutions, allowing local financial departments to develop their own subsidy policies, thus increasing the coverage of the program [3][11]. - The central and provincial governments will share the subsidy costs, with the central government covering 90% and the provincial government 10% [3][10]. Group 4: Consumer Incentives - The removal of previous limits on subsidy amounts for individual transactions and cumulative subsidies is expected to enhance the attractiveness of the subsidy policy for consumers, encouraging them to utilize it to expand consumption [4][11]. - The policy aims to support the consumption capacity and willingness of residents, particularly in third and fourth-tier cities, which are crucial growth points for the consumption market [3][11].