2 1 Shi Ji Jing Ji Bao Dao·2026-01-20 15:06Core Insights - The Chinese government is implementing a series of fiscal policies aimed at boosting domestic demand and promoting high-quality economic development, with a focus on six new policies, particularly two interest subsidy policies for the service sector and personal consumption loans [2][4]. Group 1: Policy Duration and Implementation - The personal consumption loan interest subsidy policy will be uniformly executed by Agricultural Bank of China, Bank of China, and Postal Savings Bank from September 1, 2025, to December 31, 2026 [5]. - The service sector loan interest subsidy policy, currently announced by Agricultural Bank of China, will also extend to December 31, 2026, with existing loans issued between March 16, 2025, and December 31, 2025, continuing under previous regulations [5]. Group 2: Optimized Subsidy Scope - The new policy includes credit card bill installment payments as part of the subsidy scope, effective from January 1, 2026, to December 31, 2026, with a subsidy rate of 1% per annum, capped at 50% of the agreed annualized interest rate [6]. - Adjustments in personal consumption loan subsidies include the removal of a 500 yuan cap on single transaction subsidies, elimination of a 1,000 yuan cap for cumulative transactions under 50,000 yuan, while maintaining a 3,000 yuan annual cap for all personal consumption loans [7]. - The service sector loan subsidy now includes three new categories: digital, green, and retail consumption, and increases the maximum subsidy per loan from 1 million yuan to 10 million yuan, significantly reducing financing costs for large loans [7]. Group 3: Important Considerations - Fraudulent activities to obtain funds will be legally addressed, with banks retaining the right to recover subsidies if fraudulent behavior is detected [8]. - Banks will not charge any fees for processing loans or subsidies and will not engage third parties for these services, emphasizing the prohibition of fraudulent practices [9]. - Overdue loans will not qualify for interest subsidies, and borrowers must settle all outstanding debts before being eligible for subsidies [9].