690亿元！“国补”再继续

Core Viewpoint - The Chinese government is actively promoting consumption through a series of financial measures, including the issuance of special bonds to support the "old for new" consumption policy, aiming to boost retail sales and overall economic activity [1]. Group 1: Financial Measures - The National Development and Reform Commission (NDRC) announced that the third batch of 690 billion yuan in special long-term bonds for supporting the "old for new" consumption initiative has been fully allocated, with a fourth batch of the same amount planned for October, completing the annual target of 3000 billion yuan [1]. - The NDRC will collaborate with the Ministry of Finance and the Ministry of Commerce to ensure local governments fulfill their funding responsibilities and detail the usage plans for these funds [1]. Group 2: Market Impact - In the first half of the year, the "old for new" consumption initiative has shown positive results, with sales of automobiles, home appliances, home decoration, and mobile phones reaching 1.6 trillion yuan [1]. - Retail sales of major household appliances and audio-visual equipment, cultural and office supplies, communication equipment, and furniture have seen year-on-year growth rates of 30.7%, 25.4%, 24.1%, and 22.9% respectively, contributing to a 5% year-on-year increase in total retail sales of consumer goods, which is 1.5 percentage points higher than the previous year's total [1].