“双贴息”政策优化在即，贷款经办机构有望扩围

Core Viewpoint - The State Council's recent meeting has outlined a comprehensive policy package aimed at promoting domestic demand through financial and fiscal collaboration, particularly focusing on enhancing consumer spending capacity through optimized loan subsidy policies [1] Group 1: Policy Implementation - The "double subsidy" policy will optimize the implementation of loans for service industry entities and personal consumption loans, aiming to increase the supply of quality services and enhance consumer spending ability [1] - The policy includes a 1% interest subsidy for personal consumption loans under certain conditions, with a maximum subsidy of 3,000 yuan per borrower for loans above 50,000 yuan [3] Group 2: Financial Institution Participation - The initial batch of institutions eligible for the subsidy includes 18 national commercial banks and several leading consumer finance companies, with expectations for the expansion of eligible institutions in future policy adjustments [4] - Financial institutions have increased credit issuance in the consumer sector, with significant loan disbursements reported by major state-owned banks [3] Group 3: Regional Policy Adaptation - Several provinces, including Chongqing, Sichuan, and Guizhou, have already included local banks in the subsidy policy, demonstrating a trend towards regional adaptation of the national policy [6] - The "national subsidy + local subsidy" model is expected to be adopted by more provinces, enhancing policy coverage and efficiency in reaching consumers [6] Group 4: Future Policy Optimization - Future policy evaluations may lead to the extension of the subsidy period and adjustments in the range of supported institutions, with a focus on managing financial risks and ensuring effective policy execution [9] - Recommendations for optimizing the subsidy policy include establishing differentiated subsidy strategies based on regional development levels and specific consumer needs, as well as improving data sharing between government and financial institutions to streamline loan approval processes [10][11]