最近，网上关于"房贷贴息"的小道消息讨论声颇为高涨，传言针对当前楼市下行，国家或将落地"给买房人房贷利息进行补贴，补贴额度1%"，此消息未 经官方证实，目前也尚未官宣。 网传房贷贴息帖子（图源网络） 关于传闻版本却也众说纷纭，有的说是给新增的房贷贴息，也有的说对于高风险地区或困难房企也会给予贴息比例。此外，网络上还有关于首批贴息落地 城市的猜测。 房贷贴息到底是什么？可以理解为在原来房贷利率基础上国家给予的利息补差，假定按照1%补贴，这意味着在现在首套房贷利率3.05%（LPR-45个基 点）在补贴后只有约2.05%的利率，对于买房人来说是实实在在的成本降低。 例如一套总价300万的房子，降低1%利率后，粗略估算30年总利息可以减少约50万左右，这样的真金白银减负，无论是对于持币观望的买房人入场，还是 刺激内需消费的确将发挥积极作用。 这些针对特定区域、特定楼盘的差异化补贴政策，和国家或地方政府的统一补贴政策还有所区别。 和房贷紧密相关的LPR已经连续7个月未发生调整，今年以来，LPR仅在2025年5月唯一一次下调0.1个百分点，迄今为止，最新5年期以上LPR为3.5%。市 场传言，LPR或将在2026年一季 ...

地方消费贷"红包"能申领了 转自：成都日报锦观 首批落地 政策规定，符合条件的个人消费贷款可享受贴息为年化1个百分点，且最高不超过贷款合同利率的 50%。值得注意的是，政策设置了累计贴息上限机制。单个借款人在政策执行期内，单笔5万元以下的 消费贷款也能享受贴息，累计最高享受贴息500元，对应最高10万元的累计消费贷款金额。此外，累计 贴息上限为1500元，对应最高30万元的累计消费贷款金额。 市民如何申领消费贷"红包"呢？工作人员表示，在手机银行上就可完成申请：登录手机银行App，进 入"贷款服务"板块；选择"贴息申请"选项；点击"当期财政贴息"，签署贴息服务协议。"消费发生之 后，客户可以在手机银行上传消费凭证，自主申请贴息。"成都银行个人金融部负责人介绍，5万元以下 需要上传消费凭证，5万元及以上消费，则需要借款人上传发票，"需要明确的是，必须是在川范围内的 消费才能申请。" 本报讯 （成都日报锦观新闻记者 刘泰山） 2026年将至，不少市民惊喜地发现，自己有望申领一笔来自 消费贷贴息的"新年红包"。这份即将到来的"红包"，来自四川省近期落地的个人消费贷款财政贴息。近 日，继国家推出消费贷"国补"之后，地 ...

Group 1 - The core viewpoint of the article highlights the implementation of the consumer loan interest subsidy policy, referred to as "financial national subsidy," which has been in effect for over a hundred days, showing increased bank lending but limited recovery in consumer credit demand [2][6] - Major state-owned and joint-stock banks have significantly increased their personal consumption loan issuance since September, with China Bank issuing 47.4 billion yuan in September alone, marking a 26.11% increase year-to-date [3][4] - Regional banks are also joining the initiative, raising loan limits to 500,000 to 1 million yuan, with some small banks offering up to 2 million yuan, promoting loans for various consumer purposes [4][5] Group 2 - Despite the increased loan limits, many banks maintain strict customer screening, with loans over 300,000 yuan primarily available to stable income groups, limiting the impact on broader consumer segments [5] - The overall demand for consumer loans remains weak, with a net decrease of 206 billion yuan in household loans in November, indicating a sluggish recovery in consumer credit [5][6] - The shift from "national subsidy" to "local subsidy" is evident as local governments begin to implement their own consumer loan interest subsidy policies, aiming to stimulate local consumption and activate regional markets [6][7]

Core Insights - The policy to promote consumption is intensifying, with interest subsidy policies for consumer loans extending from national commercial banks to local regional banks [1][2] - Regions like Sichuan, Chongqing, and Guizhou have introduced supporting policies to include regional small and medium-sized banks in the consumer loan interest subsidy program, targeting rural and county markets [1][2] Policy Expansion - Since December, several regions have rapidly implemented policies to expand the scope of consumer loan interest subsidies, with a focus on local banks [2][3] - The initial policy framework was established in August, with the Ministry of Finance, the People's Bank of China, and the financial regulatory authority outlining the core institutions for the subsidy program [2][3] Implementation Details - Specific policies have been launched in various regions, such as Sichuan and Chongqing, which include interest subsidies for personal consumer loans effective from 2025 to 2026 [3][5] - The subsidy rate is set at 1% per annum, with specific limits on the total subsidy amount based on the loan amount and duration [5][6] Regional Variations - Different regions exhibit varying levels of subsidy intensity, influenced by local economic conditions and the operational strategies of banks [7] - The application processes and subsidy limits differ among banks, reflecting a tailored approach to local market conditions [6][7] Future Outlook - The model of expanding consumer loan interest subsidies to local banks is expected to be promoted nationwide, aligning with national policies encouraging local financial support [8] - Simplifying application processes and enhancing service experiences are critical for effectively reaching underserved markets [8]

12月以来，贵阳银行、贵州银行先后发布关于个人消费贷款贴息工作的公告。两家银行均表示，为降低 居民消费信贷成本，助力释放居民消费潜力，根据多部门联合发布的《贵州省地方法人城市商业银行和 农信系统消费贷款贴息实施细则》精神及相关要求，自12月1日起，正式受理符合条件的消费贷款客户 贴息。 贵阳银行表示，用于综合消费用途的贷款以及服务业经营主体贷款，可按细则规定享受贴息政策。其 中，可享受贴息的个人消费贷款，其实际消费对应商户工商登记注册地应在贵州省内。贴息范围包括单 笔5万元以下消费，以及单笔5万元及以上的家用汽车、文化旅游等重点领域消费。服务业经营主体贷款 的贴息范围则包括餐饮住宿、文化娱乐等八类消费领域服务业经营主体。 成都银行、成都农商行则在12月初分别发布关于消费贷款财政贴息实施细则的公告。两家银行均表示， 贴息政策期间为2025年10月1日至2026年3月31日。贴息范围为，个人客户提用成都银行、成都农商行发 放的个人消费贷款中实际用于四川省消费，且银行可通过贷款发放账户等识别借款人相关消费交易信息 的部分，可按规定享受贴息政策支持。 中国证券报记者发现，12月以来，部分城农商行借助地方财政之力，撬开 ...

中国证券报记者发现，12月以来，部分城农商行借助地方财政之力，撬开消费贷"地补"新市场。贵州银 行、贵阳银行、成都银行、成都农商行等区域性银行表示，为降低居民消费信贷成本，助力释放居民消 费潜力，推出消费贷补贴业务。 自愿申请 额度有限 从贴息金额来看，贵州银行、贵阳银行的贴息力度与消费贷"国补"持平。两家银行均表示，每位借款人 在该行可享受的个人消费贷款累计贴息上限为3000元，其中单笔5万元（含）以下的小额消费贷款累计 贴息上限为1000元，叠加大额消费贷款贴息后总额不得突破3000元上限。 ● 本报记者 张佳琳 此前，消费贷"国补"业务的贷款经办机构并不包括城农商行。业内人士表示，与覆盖面广、标准相对统 一的消费贷"国补"相比，消费贷"地补"具备更强的区域灵活性，不仅能够为区域性银行带来新的业务增 长点，也能撬动地方消费市场。 消费贷"地补"业务现身 12月以来，贵阳银行、贵州银行先后发布关于个人消费贷款贴息工作的公告。两家银行均表示，为降低 居民消费信贷成本，助力释放居民消费潜力，根据多部门联合发布的《贵州省地方法人城市商业银行和 农信系统消费贷款贴息实施细则》精神及相关要求，自12月1日起，正式受理 ...

Core Viewpoint - Everbright Bank is increasing credit support and implementing central policies to boost personal consumption loans, with preparations nearly complete for the launch of related functions [1] Group 1: Financial Performance - In the first half of the year, Everbright Bank achieved a net profit attributable to shareholders of 24.622 billion yuan, a year-on-year increase of 0.55% [1] - The bank's asset quality remains stable, with a non-performing loan ratio of 1.25%, unchanged from the beginning of the year [1] - Retail business has shown steady growth through cost control and specialized operations [1] Group 2: Retail Deposit Strategy - Everbright Bank has implemented four measures to enhance retail deposits, achieving both volume and price optimization [2] - The cost of retail deposits has improved by 49 basis points over the past three years, leading the industry [2] - The average daily deposit growth rate reached 6.7% in the first half of the year, with retail loan-to-deposit spreads performing well [2] Group 3: Wealth Management and Customer Service - The bank's "Sunshine Wealth" brand has grown its assets under management (AUM) to nearly 3.1 trillion yuan, with personal wealth management revenue increasing by 6.1% year-on-year [2] - Everbright Bank serves nearly 160 million retail customers, with digital investment advisory services reaching 1.5 million clients [2] - The bank's wealth management product scale reached 1.8 trillion yuan, generating 19.1 billion yuan in customer returns in the first half of the year [2] Group 4: Consumer Promotion Initiatives - The bank is focusing on expanding consumption scenarios, particularly in tourism and trade-in services, to enhance service coverage [3] - Efforts will be made to improve financial service quality, including enhancing payment security and optimizing customer service capabilities [3]

Group 1 - The banking sector is experiencing a correction, with declines of approximately 0.85% in July and 2.17% in August, attributed to style switching and profit-taking, but recent policies on "anti-involution" and consumer loan interest subsidies are seen as beneficial for banks [1][4] - The phenomenon of "deposit migration" is not significant at present, as the scale is much lower than during the 2015 stock market surge, despite an increase in retail investor stock accounts [2][4] - Large banks maintain reasonable loan-to-deposit ratios, with one state-owned bank at about 70% and another at 90%, indicating no significant deposit shortages [4][7] Group 2 - H-shares of banks are favored over A-shares due to higher dividend yields, with some large banks potentially offering yields above 5.5% post-capital injection [5][7] - The revenue growth of state-owned banks in the first half of the year is attributed to increased intermediary business income and bond investment returns, while joint-stock banks are still facing revenue declines [7][8] - The recent implementation of consumer loan interest subsidies is expected to have a marginal impact, primarily benefiting middle-income groups, while asset quality is being monitored to prevent funds from flowing into the stock and real estate markets [8][9] Group 3 - The recent correction in bank stocks is viewed as a normal market fluctuation, with factors such as profit-taking and a shift in market focus contributing to the decline [9] - Future stabilization of bank stocks will depend on policy signals, clear economic expectations, and the upcoming dividend distribution period at the end of the year [9]

Core Viewpoint - The banking sector is experiencing a correction, but recent policies such as "anti-involution" and consumer loan interest subsidies are seen as beneficial for banks [1][4]. Group 1: Market Trends - The Wind banking index shows a decline of approximately 0.85% in July and 2.17% in August, attributed to style switching and profit-taking [1]. - The phenomenon of "deposit migration" is not significant compared to the 2015 stock market surge, with current data indicating a low level of this trend [2][4]. - Large banks maintain reasonable loan-to-deposit ratios, with one state-owned bank at about 70% and another at 90%, indicating no significant deposit shortages [4]. Group 2: Consumer Loans and Policies - Recent policies, including interest subsidies for consumer loans, are expected to have a marginal impact on specific income groups, particularly middle-income individuals [8]. - The impact of these policies on asset quality is being monitored, with regulations preventing funds from flowing into the stock and real estate markets [8]. Group 3: H-Shares vs A-Shares - H-share banks are favored over A-share banks due to higher dividend yields, with some large banks potentially offering yields above 5.5% post-capital injection [5][7]. - The average expected dividend yield for H-share banks is projected to be around 4.9% by 2025, with a sustainable outlook for the next five years [7]. Group 4: Revenue and Growth Outlook - State-owned banks reported positive revenue growth in the first half of the year, driven by increased intermediary business income and bond investment returns [7]. - The long-term forecast suggests that banks will resume revenue growth by 2026, with net interest margins expected to stabilize and fee income recovering [7]. Group 5: Stability and Future Conditions - The recent correction in bank stocks is viewed as a normal market fluctuation, with key conditions for stabilization including policy signals, economic expectations, and the upcoming dividend distribution period [9].

Core Points - The personal consumption loan interest subsidy policy officially implemented on September 1, allowing consumers to benefit from interest subsidies on loans until August 31 of the following year [1] - Banks have prepared to automatically identify consumer information and apply subsidies during the loan process, enhancing customer experience [2] Group 1: Policy Implementation - The subsidy policy is the first of its kind from the central government for personal consumption loans, with a maximum subsidy of 3000 yuan available to eligible consumers [1] - Consumers can apply for loans online or at bank branches, where they must sign a supplementary agreement to authorize banks to access their transaction information [2] Group 2: Bank Preparedness - Banks underwent multiple rounds of system testing to ensure accurate identification of loan usage for subsidy eligibility, demonstrating the capability to analyze large transaction data [2] - Training has been provided to bank staff to ensure effective service delivery related to the subsidy program [2] Group 3: Consumer Experience - Eligible customers will see the subsidy directly deducted from their loan interest, improving their overall experience [2] - Customers can check their subsidy amounts through mobile banking and will receive notifications via SMS [2] Group 4: Participating Institutions - Only loans from 18 designated banks, including major institutions like Agricultural Bank of China, are eligible for the subsidy [2] - The policy aims to support genuine consumer demand and enhance the integration of loans with consumption scenarios [2]