12月31日，国家发展改革委举行新闻发布会，国家发展改革委政策研究室副主任、新闻发言人李超回应 经济社会领域热点问题。 2026年"两新"政策有三方面新变化 2026年"两新"政策有哪些新变化？ 对此，李超介绍称，2026年"两新"政策重点在设备更新政策惠及面、支持绿色低碳智能产品推广应用、 资金使用监管等方面进行了优化，可以概括为以下三个方面。 一是优化支持范围。设备更新方面，在总体延续2025年支持范围的基础上，主要增加了三个方面的更新 补贴，在民生领域增加老旧小区加装电梯、养老机构设备更新，安全领域，增加消防救援、检验检测设 备更新，消费基础设施方面，增加商业综合体、购物中心、百货店、大型超市等线下消费商业设施的设 备更新。消费品以旧换新方面，进一步集中资源，着力提升覆盖人群广、带动效应强的重点消费品"得 补率"。具体来看，继续实施汽车报废更新和汽车置换更新补贴；继续实施家电以旧换新补贴，支持范 围聚焦冰箱、洗衣机、电视、空调、电脑、热水器等6类产品；同时，将数码产品购新补贴拓展为数码 和智能产品购新补贴，支持范围包括手机、平板、智能手表（手环）、智能眼镜和智能家居产品（含适 老化家居产品）。 二是优化 ...

智通财经APP获悉，12月31日，国家发展改革委召开12月份新闻发布会。会上，国家发展改革委政策研 究室副主任李超表示，近日国家发展改革委抓紧组织下达2026年提前批"两重"建设项目清单和中央预算 内投资计划，共计约2950亿元。"两重"建设方面，强化"两重"性质、坚持自上而下、注重软硬结合，共 安排约2200亿元，支持城市地下管网、高标准农田、三北工程、有效降低全社会物流成本等领域的281 个项目，进一步突出"两重"建设的战略性、前瞻性、全局性。中央预算内投资方面，聚焦需要集中力 量、持续投入、补短板调结构惠民生的公共领域，安排超过750亿元，支持城市更新、水利、生态保护 修复、污染治理、节能降碳等方面的673个项目，充分发挥政府投资引导带动作用。 李超表示，与此同时还加快推出一批"软建设"举措，推动各类资金财尽其用，不断提高投资效益。比 如，推动完善城市地下管网建设改造投融资模式和市政公用事业价费机制，健全灌区农业节水激励机 制，加快完善现代物流标准体系，着力构建固体废弃物综合治理体系等，推动形成项目建设实施和运营 维护的长效机制。 中央经济工作会议对明年经济工作作出全面部署，国家发展改革委，深入学习领会 ...

实施了两年的"两新"政策，在2026年对部分内容进行了优化。 2025年12月30日，国家发展改革委和财政部联合对外发布《关于2026年实施大规模设备更新和消费品以 旧换新政策的通知》（下文简称《通知》），明确了2026年"两新"政策的实施范围和补贴标准。 在设备更新方面，在继续支持工业、电子信息、能源电力、交通运输等领域的基础上，将老旧小区加装 电梯、养老机构设备更新、线下消费商业设施设备更新等纳入支持范围。在消费品以旧换新方面，支持 汽车报废更新和汽车置换更新，支持家电以旧换新，支持数码和智能产品购新。 2025年12月31日，国家发展改革委政策研究室副主任、新闻发言人李超在国家发展改革委新闻发布会上 表示，2026年"两新"政策重点在设备更新政策惠及面、支持绿色低碳智能产品推广应用、资金使用监管 等方面进行了优化。为满足元旦、春节消费需求，2026年第一批625亿元超长期特别国债支持消费品以 旧换新资金计划已经向地方下达。 扩大设备更新支持范围 2026年对"两新"政策的支持范围进行了优化，设备更新的支持领域有所扩大，家电换新聚焦在六类产 品，智能眼镜新纳入数码和智能产品购新补贴范畴。 对于汽车置换更新 ...

Group 1 - The Hang Seng Index rose by 219 points, closing at 25,854 points, with a daily trading volume of HKD 1,997.69 million [3] - The China National Aviation Holding Company announced the purchase of 60 Airbus A320NEO aircraft, with a total catalog price of approximately USD 9.53 billion, expected to be delivered between 2028 and 2032 [10] - Caocao Travel acquired Weixing Technology for a total cash consideration of RMB 225 million, aiming to enhance its high-end travel service offerings [11] Group 2 - The Hong Kong Monetary Authority reported that over 3,200 individuals have opened accounts under the "Smart Savings" program, with total protected deposits amounting to approximately HKD 1.6 billion [6] - The Chinese Ministry of Finance announced a new policy exempting individuals from value-added tax on the sale of residential properties purchased for over two years, effective January 1, 2024 [8] - The National Development and Reform Commission of China has introduced a subsidy policy for the replacement of old consumer goods, with a total budget of RMB 62.5 billion for 2026 [9]

Group 1 - The core viewpoint of the news is the optimization of the "Two New" policy for 2026, aimed at enhancing the implementation mechanism and ensuring smooth policy execution to benefit more consumers and businesses [1][2] - The National Development and Reform Commission (NDRC) has organized the early batch of "Two Heavy" construction project lists and central budget investment plans, totaling approximately 295 billion yuan [1][5] - The NDRC emphasizes the importance of building a "green transformation highland" rather than creating a "policy lowland" through the establishment of national-level zero-carbon parks [1][9] Group 2 - The funding distribution method for the "Two New" policy will be optimized, considering previous policy execution and audit findings to determine funding allocation for different regions [2] - The NDRC plans to support 281 "Two Heavy" projects with around 220 billion yuan, focusing on urban underground pipelines, high-standard farmland, and logistics cost reduction [5] - The first batch of 625 billion yuan in special long-term bonds to support consumer goods replacement has been allocated to local governments to meet consumption demands during the New Year and Spring Festival [2][5] Group 3 - The 2026 policy has been specifically optimized to support more enterprises in equipment upgrades, with a focus on lowering entry barriers for project applications [3][4] - The NDRC is working with the Ministry of Finance to enhance supervision and efficiency in the use of funds for equipment upgrade projects [4] - The establishment of a national-level zero-carbon park involves a rigorous evaluation process, with specific indicators set for parks to achieve before being officially recognized [9]

Group 1 - The National Development and Reform Commission (NDRC) plans to stabilize investment with greater efforts in 2026, having organized the early batch of two major construction project lists and a central budget investment plan totaling approximately 295 billion yuan [1] - The early batch of "two major" projects for 2026 includes about 220 billion yuan, supporting 281 projects in areas such as urban underground pipelines, high-standard farmland, and logistics cost reduction [1] - NDRC has approved and authorized several major infrastructure projects, including the new Guangzhou Airport and the construction of the Zhanjiang to Haikou cross-sea ferry and related transportation facilities [1] Group 2 - The "two new" policies for 2026 have been optimized to enhance the implementation of equipment renewal policies and support the promotion of green, low-carbon, and smart products [2] - The optimization of the "two new" policies includes three main aspects: expanding the support scope, optimizing subsidy standards, and improving implementation processes [2] Group 3 - NDRC will strictly enforce regulations against fraudulent subsidy claims and will conduct special actions to address illegal activities such as "fake subsidies" and "price hikes before subsidies" [3] - The NDRC is collaborating with the Ministry of Finance to comprehensively review the construction status of equipment renewal projects and improve the efficiency of fund usage [3] Group 4 - The NDRC is committed to advancing the construction of a unified national market, which is seen as both a challenging and long-term endeavor [4] - The NDRC will establish regulations that facilitate the construction of a unified national market and will address obstacles that hinder this process, including rectifying issues related to tax rebates and bidding [4] Group 5 - The NDRC is continuing to promote the "non-restricted entry" policy in market access, having reviewed over 38,000 local regulations and revised or abolished approximately 2,300 of them [6] - The NDRC has addressed a number of violations related to market access barriers, with 372 effective problem reports received from the public, resulting in 225 verified cases across various industries [6]

Industry Investment Rating - No information provided Core Viewpoints - The industry presents a mixed picture with different trends in various sectors, and policies such as the "Two New" policy in 2026 and the automotive digital transformation plan will have an impact on relevant industries [1][2] Summary by Directory Middle - view Event Overview Production Industry - The Ministry of Industry and Information Technology and other four departments issued the "Implementation Plan for the Digital Transformation of the Automotive Industry". By 2027, the intelligent manufacturing capability maturity level of benchmark vehicle manufacturers will be upgraded by one level, the digital level of component enterprises will be significantly improved, the penetration rate of R & D and design tools will exceed 95%, and the numerical control rate of key processes will exceed 70%. By 2030, the industry will achieve a high - level digital and intelligent development [1] Service Industry - The National Development and Reform Commission and the Ministry of Finance issued the "Notice on Implementing the Policy of Large - scale Equipment Renewal and Consumer Goods Trade - in in 2026", supporting home appliance trade - in, new purchases of digital and smart products, and new purchases of smart home products with corresponding subsidy standards [2] Industry Overview Upstream - In the non - ferrous sector, copper prices continue to rise; in the energy sector, liquefied natural gas prices continue to fall; in the agricultural sector, the prices of pork, cotton, and palm oil rise slightly [3] Middle - stream - In the chemical industry, the operating rates of PTA and PX remain low; in the energy sector, the coal consumption of power plants increases [4] Downstream - In the real estate sector, the sales of commercial housing in first - and second - tier cities continue to pick up; in the service sector, the number of domestic flights increases [5] Key Industry Price Indicators Tracking - Agricultural products such as corn, eggs, palm oil, cotton, and pork show price increases, with the price of pork rising by 2.19% [40] - Non - ferrous metals including copper, zinc, aluminum, and nickel also see price increases, with copper rising by 4.39% [40] - Energy products like WTI crude oil have a slight price increase of 0.12%, while Brent crude oil and liquefied natural gas prices fall, with liquefied natural gas dropping by 5.39% [40] - Chemical products such as PTA have a price increase of 2.49%, while polyethylene and urea prices fall [40] - In the real estate - related sector, the cement price index and building materials comprehensive index decline slightly [40]

Core Viewpoint - The National Development and Reform Commission (NDRC) is optimizing the implementation of the "Two New" policy to enhance domestic demand, employment, and improve people's livelihoods, focusing on equipment updates and support for green, low-carbon, and smart products [1] Group 1: Optimization of Support Scope - The support scope for equipment updates will be expanded to include new subsidies for old residential elevators, equipment updates for elderly care institutions, and updates for fire rescue and inspection equipment [2] - The policy will also enhance support for offline commercial facilities such as shopping centers and large supermarkets, and will focus on key consumer goods with strong demand and impact [2] - The program will continue to implement subsidies for scrapping and replacing cars, as well as for replacing old household appliances, specifically targeting six categories of products [2] Group 2: Optimization of Subsidy Standards - The subsidy for updating old residential elevators will shift from a fixed amount to a tiered system based on the number of floors [3] - In the scrapping and replacing of old operational trucks, priority will be given to electric trucks [3] - The subsidy for household appliances will be adjusted to support energy-efficient products, with a cap of 1,500 yuan per item [3] Group 3: Optimization of Implementation Mechanisms - The project application mechanism and review process will be optimized to lower the investment threshold for small and medium-sized enterprises [3] - The funding distribution method will be improved, and strict measures will be taken against fraudulent claims and illegal practices [3] - A unified subsidy standard will be established nationwide for various categories, including car scrapping and replacing, and household appliances [3]

Group 1 - The Ministry of Finance announced that individuals selling residential properties purchased for more than two years will be exempt from value-added tax starting January 1, 2026 [1] - The National Development and Reform Commission (NDRC) released a plan to optimize the "Two New" policy for 2026, expanding support to various sectors including old community elevator installations and consumer goods replacement [2] - A special bond issuance of 625 billion yuan has been approved to support the "Two New" policy, aimed at boosting consumer demand during peak seasons [2] Group 2 - The Ministry of Commerce and eight other departments issued detailed guidelines for the 2026 vehicle replacement subsidy program, offering significant financial incentives for scrapping older vehicles [2] - China National Airlines announced a purchase agreement for 60 Airbus A320NEO aircraft, with a total catalog price of approximately 9.53 billion USD, to be delivered between 2028 and 2032 [4] - Zijin Mining expects a net profit increase of approximately 59%-62% for 2025, projecting a profit of around 51-52 billion yuan [4] Group 3 - Tianpu Co. announced a stock suspension for verification after a significant price increase of 718.39% from August 22 to December 30 [5] - Guotou Zhonglu plans to acquire 100% of China Electronic Engineering Design Institute for 6.026 billion yuan, with a premium of 147.4% over the asset's book value [6] - Shengxin Lithium Energy intends to acquire a 30% stake in Qicheng Mining for 2.08 billion yuan, which is developing a lithium mine with a production capacity of 3 million tons per year [6] Group 4 - Haoshi Electromechanical reported small-scale applications of its products in leading commercial aerospace companies, indicating potential for increased orders in the growing market [7] - Jinpan Technology signed a contract for an overseas data center project worth approximately 696 million yuan, which is expected to positively impact the company's long-term performance [8] - Salt Lake Co. plans to acquire a 51% stake in Wenkang Salt Lake for 4.605 billion yuan, aiming to enhance its competitive position in the lithium and potassium resource market [9] Group 5 - Zhaofeng Co. announced a 1.53 billion yuan investment in the industrialization of intelligent robots and high-end precision components for automotive smart driving [10] - Baiwei Storage's subsidiary plans to acquire shares in Niu Xin Semiconductor, focusing on high-speed interconnect technology and related solutions [10]

Core Viewpoint - The National Development and Reform Commission (NDRC) is optimizing the "Two New" policy for 2026, focusing on enhancing domestic demand, employment, and living standards through improved investment strategies in both physical and human resources [1] Group 1: Support Range Optimization - The support range for equipment updates will expand to include new subsidies for old residential elevators, equipment updates in elderly care institutions, and safety equipment such as firefighting and inspection devices [2] - The policy will also enhance support for consumer infrastructure updates, specifically targeting offline commercial facilities like shopping centers and supermarkets [2] - The "trade-in" program for consumer goods will concentrate resources on key products with strong market impact, continuing subsidies for vehicle scrappage and appliance replacement, while expanding digital product subsidies to include smart devices [2] Group 2: Subsidy Standard Optimization - The subsidy for updating old residential elevators will shift from a fixed amount to a tiered system based on the number of floors serviced [3] - In the scrappage program for old commercial trucks, priority will be given to electric vehicle replacements, while the subsidy for cars will be adjusted to a percentage of the vehicle price [3] - The appliance replacement subsidy will focus on energy-efficient products, providing 15% of the product price with a cap of 1,500 yuan per item [3] Group 3: Implementation Mechanism Optimization - The project application and review processes will be streamlined to lower the investment threshold for small and medium-sized enterprises, thereby broadening the policy's reach [3] - The funding distribution method will be improved to prevent fraudulent claims and ensure compliance with national standards for vehicle and appliance subsidies [3] - A unified subsidy standard will be established nationwide for vehicle scrappage, replacement, and appliance trade-in programs [3]