Zhong Guo Jing Ying Bao·2026-01-21 14:20Core Viewpoint - The recent policy optimization aims to lower consumer costs and activate consumption potential while reinforcing risk control measures to combat illegal arbitrage [1][5]. Group 1: Policy Implementation - Multiple banks, including Agricultural Bank, Bank of Communications, Postal Savings Bank, and China Merchants Bank, announced the implementation of the personal consumption loan interest subsidy policy as per the notification issued on January 16, 2026, effective from January 1, 2026 [1][2]. - The notification expands the scope of interest subsidies by removing previous restrictions on consumption areas, allowing residents to enjoy subsidies for various consumption fields and new credit card installment bills, provided they meet authenticity and compliance requirements [2][5]. Group 2: Application Process - Banks have clarified the application process for interest subsidies, with Agricultural Bank allowing customers to apply through mobile banking and customer service hotlines, while Bank of Communications offers an app for checking subsidy amounts and transaction details [3][4]. Group 3: Risk Control Measures - Banks have emphasized that they do not charge any fees for processing interest subsidies and will not engage third-party intermediaries for these services, aiming to protect customers from fraud [4][5]. - Experts have highlighted the risks posed by illegal intermediaries who may fabricate consumption purposes and documents to exploit the subsidy system, leading to potential financial disorder [5][6]. - A multi-layered risk control system has been established, involving banks, financial regulatory bodies, and the Ministry of Finance to monitor loan purposes and fund flows, ensuring compliance and accountability [6].