政策高频 | 2026年“两新”首批额度下达（申万宏观·赵伟团队）

Group 1 - The core viewpoint of the article emphasizes the implementation of new policies for equipment updates and consumer goods trade-in subsidies in 2026, aimed at stimulating consumption and supporting economic growth [2][3][4] - The 2026 policy expands the scope of equipment updates to include the installation of elevators in old residential areas and support for various sectors such as elderly care and fire rescue [2][3] - The subsidy for new energy passenger vehicles is set at 12% of the vehicle price, with a maximum of 20,000 yuan, while the subsidy for fuel vehicles is 10% with a cap of 15,000 yuan [3][4] - The new policy simplifies the categories of consumer goods eligible for trade-in subsidies, reducing from 12 to 6 categories, focusing on high-efficiency products [3][4] Group 2 - The 2026 budget for early investment in "two heavy" construction projects is approximately 2,950 billion yuan, with a significant increase in funding for urban underground pipelines and high-standard farmland [5][6] - The new personal housing sales tax policy reduces the tax rate for properties sold within two years from 5% to 3%, while properties sold after two years are exempt from tax [7][8][9] - The national fiscal work conference emphasizes the continuation of proactive fiscal policies to boost domestic demand, support innovation, and promote green transformation [10][11] - The State Council meeting outlines measures to promote cross-border trade facilitation, enhancing logistics efficiency and supporting new business models like cross-border e-commerce [12][13]