财政金融促内需六项新政，谁获益？

Core Viewpoint - The Chinese government is implementing a series of fiscal and financial policies aimed at boosting domestic demand, with a focus on increasing fiscal spending, supporting consumption, and enhancing residents' income through various channels [2][3][10]. Fiscal Policy Overview - In 2026, the fiscal deficit, total debt, and overall spending will be maintained at necessary levels, ensuring that overall spending increases and key areas are strongly supported [2][3]. - The deficit rate for 2025 is set at around 4%, with new government debt issuance expected to reach 11.86 trillion yuan, significantly higher than previous years [2]. Key Policies - The fiscal and financial package includes six policies, four of which focus on stimulating private investment, while the other two aim to promote consumption [5][10]. - Specific measures include loan interest subsidies for small and micro enterprises, personal consumption loans, equipment upgrade loans, and guarantees for private investment [5][7][8]. Support for Private Investment - A new special guarantee plan for private investment has been introduced, increasing the credit guarantee limit and risk-sharing ratio to encourage banks to lend more [6][10]. - The maximum guarantee amount for individual enterprises has been raised to 20 million yuan, with the government covering up to 40% of the risk [6]. Consumption Support Measures - Personal consumption loans will now benefit from a 1% interest subsidy, with the maximum subsidy amount per transaction increased from 500 yuan to 3,000 yuan [9]. - The scope of eligible consumption areas has expanded to include digital, green, and retail sectors, alongside existing categories [9]. Focus on Technology and Innovation - The government will prioritize support for technological self-reliance and innovation, with a 10% increase in central government spending on technology in 2025 [11]. - Policies will include tax incentives and financial support for technology innovation and integration with industry [11]. Regulatory Adjustments - Starting April 1, 2026, export tax rebates for certain products will be canceled to promote efficient resource use and reduce environmental impact [12]. - The government is committed to standardizing fiscal subsidies and addressing any irregularities in local subsidy practices [12][13]. Tax and Fiscal Reforms - Ongoing reforms will clarify fiscal responsibilities between central and local governments, particularly in public services [13]. - The tax system will be reformed to adapt to new economic realities, including the digital economy [13].