财政金融促内需一揽子政策落地

Core Viewpoint - The Chinese government has announced a comprehensive fiscal and financial policy package aimed at boosting domestic demand, with a focus on supporting private investment and consumption [1][2]. Group 1: Support for Private Investment - The policy package includes four measures specifically designed to support private investment, which aim to lower financing costs and thresholds for small and medium-sized enterprises (SMEs) [2][4]. - A new loan interest subsidy policy for SMEs will provide a 1.5% annual subsidy on loans for key industries, with a maximum loan amount of 50 million yuan per enterprise [2]. - A special guarantee plan for private enterprises will offer 500 billion yuan in guarantees over two years, with individual enterprises eligible for up to 20 million yuan in guaranteed loans [2][3]. Group 2: Consumption Support - The "dual subsidy" policy for personal consumption loans and service industry loans has been extended to December 31, 2026, maintaining a 1% annual subsidy rate [5][6]. - The maximum loan amount eligible for subsidy in the service sector has been increased from 1 million yuan to 10 million yuan, expanding the range of supported consumption sectors [5]. - Credit card installment payments have been included in the subsidy support, allowing consumers to benefit from interest subsidies on these loans [5][6]. Group 3: Fiscal Policy and Spending - The fiscal policy for 2026 will see an increase in total spending, with a focus on maintaining necessary expenditure levels and ensuring support for key areas [7][8]. - The government plans to maintain a deficit rate of around 4% and an increase in new government debt by 1.186 trillion yuan compared to the previous year [7]. - The fiscal department aims to enhance local fiscal development and support the construction of a unified national market through reforms and adjustments in fiscal policies [8].