国家税务总局 8月15日发布税收数据 2024年4月至2025年7月 "两新"政策实施以来 企业采购机械设备类金额 同比增长7.3% 日用家电、视听设备销售额 同比增长44.5%、22.8% 新能源车销量 同比增长81.7% 2024年4月至2025年7月 企业采购机械设备类金额同比增长7.3% 日用家电、视听设备销售额同比分别增长44.5%和22.8% 新能源车销量同比增长81.7% "两新"政策推行一年多来 逐渐形成"政策驱动-需求释放-产业升级"的良性互动 国家税务总局8月15日发布的增值税发票最新数据显示 在大规模设备更新和消费品以旧换新政策带动下 记者：刘开雄 海报制作：刘开雄 新华社国内部出品 【纠错】 【责任编辑:吴京泽】 ...

Core Viewpoint - The new large-scale equipment update and consumer goods replacement policy in China, initiated in 2024, is set to significantly boost economic development by expanding funding support and coverage areas, aiming for a 25% increase in equipment investment across seven major sectors by 2027 [1][5]. Group 1: Policy Dynamics and Key Points - The funding scale for equipment updates has been expanded to 200 billion yuan, with the first batch of approximately 173 billion yuan allocated to 7,500 projects across 16 sectors [2][5]. - The second batch of funding, amounting to 81 billion yuan, is being reviewed for projects focusing on consumer goods replacement and equipment updates [5]. - The 2025 policy introduces new support areas such as electronic information and safety production, creating a "16+N" coverage system [5][8]. Group 2: Implementation Mechanism Optimization - The policy has removed the previous investment threshold of 100 million yuan for projects, lowering the entry barrier for small and medium-sized enterprises [5][7]. - A dual review mechanism of "local audit + national review" has been established to streamline the approval process [5][7]. - New upgrade directions in the energy and power sector include ten specific areas, enhancing the efficiency and safety of energy facilities [8][9]. Group 3: Comparison of 2024 and 2025 Policies - The 2024 policy focused on seven key sectors, while the 2025 policy expands to 16 sectors with a dynamic expansion mechanism [7]. - The funding intensity has increased with an additional 81 billion yuan and a 1.5% interest subsidy on loans [7]. - The 2025 policy introduces 294 new national standards, enhancing the regulatory framework for project applications [7]. Group 4: Key Supported Areas and Renovation Focus - Major industrial sectors targeted for equipment updates include petrochemicals, steel, non-ferrous metals, and machinery, focusing on replacing outdated equipment and upgrading production lines [8][10]. - Energy facilities will see upgrades in areas such as high-efficiency energy motors and waste heat recovery systems, aimed at reducing energy consumption [8][10]. - Transportation infrastructure will undergo significant updates, including intelligent systems for railways and urban transit, enhancing operational efficiency [10][11].

期货研究报告|宏观数据 2025-04-28 工企利润回暖 ——中国盈利系列十 研究院 徐闻宇 xuwenyu@htfc.com 从业资格号：F0299877 投资咨询号：Z0011454 投资咨询业务资格： 证监许可【2011】1289 号 宏观事件 4 月 27 日周日，国家统计局公布数据显示，1—3 月份，全国规模以上工业企业实现利 润总额 15093.6 亿元，同比增长 0.8%。 核心观点 ■ 营收压力仍存 总量：利润增速回升，需求端压力仍存。2025年 1-3月，全国规模以上工业企业利润总 额同比增长 0.8%，扭转了 2024 年三季度以来的持续下滑趋势，其中 3 月单月利润增速 回升至 2.6%，较 1-2 月的-0.3%显著改善。这一回升一方面得益于政策驱动效应逐步释 放，大规模设备更新和消费品以旧换新政策（"两新"政策）推动装备制造业利润同比 增长 7.6%，对工业利润增长的贡献率达 40%以上，成为核心拉动力量。另一方面海外 订单回升带动出口依赖型行业（如电子设备、船舶制造）利润增长，1-3 月电子行业利 润增长 3.2%，铁路船舶运输设备增长 14.2%；同时，消费品制造业利润增长 7 ...