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时报观察丨提高“国补”资金时空匹配精准度
证券时报·2025-06-14 00:14

Group 1 - The core viewpoint of the article highlights the significant impact of the "old for new" consumption policy on boosting sales during the e-commerce promotion period, with sales reaching 1.1 trillion yuan in the first five months, nearing last year's total of 1.3 trillion yuan [1] - The implementation of the "old for new" policy is supported by 300 billion yuan of long-term special government bonds, with 1,620 billion yuan allocated in two batches earlier this year, demonstrating the effectiveness of early policy deployment [1] - As of the end of May, the usage progress of the "national subsidy" funds for the "old for new" program is estimated to be between 1,439 billion and 1,632 billion yuan, close to the allocated fund scale [1] Group 2 - There is a regional disparity in the usage progress and effectiveness of the subsidy funds, with some areas pausing the "national subsidy" due to nearing the funding cap, while others adopt a daily "limited release" model to control fund consumption [2] - The distribution of funds is expected to favor regions that perform well in 2024, indicating that optimizing fund allocation based on policy implementation effectiveness will be crucial for enhancing subsidy efficiency [2] - Multiple important promotional events are still upcoming in the second half of the year, and the central government’s phased fund allocation will ensure a steady flow of "national subsidy" funds throughout the year [2]