两部门：延续实施境外机构投资境内债券市场企业所得税、增值税政策

Group 1 - The Ministry of Finance and another department announced the extension of tax policies for foreign institutions investing in the domestic bond market, specifically exempting corporate income tax and value-added tax on bond interest income from January 1, 2026, to December 31, 2027 [1] - The exemption from corporate income tax does not apply to bond interest income earned by foreign institutions that have established entities or places in China, which are related to the income [1] Group 2 - A significant policy change has been introduced, allowing commercial housing loan down payments to be reduced to 30%, indicating potential easing in monetary policy [2] - The central bank has indicated that there is still room for further interest rate cuts and reserve requirement ratio reductions, which could stimulate economic activity [2] - Eight major measures will be introduced to expand the coverage of enterprise annuities, potentially enhancing retirement savings for employees [2]