财政部等九部门印发《服务业经营主体贷款贴息政策实施方案》，具体内容如下。 服务业经营主体贷款贴息政策实施方案 为贯彻落实党中央和国务院关于大力提振消费、全方位扩大国内需求的决策部署，根据中央办公厅、国 务院办公厅印发的《提振消费专项行动方案》关于2025年对符合条件的消费领域服务业经营主体贷款给 予财政贴息的要求，充分发挥财政政策引导带动作用，推动降低服务业经营主体融资成本，助力激发消 费市场活力，以高质量供给创造有效需求，制定本实施方案。 一、政策内容 （一）支持范围。同时符合以下条件的贷款可享受贴息政策：一是由经办银行向餐饮住宿、健康、养 老、托育、家政、文化娱乐、旅游、体育8类消费领域服务业经营主体发放。二是在《提振消费专项行 动方案》公开发布之日（2025年3月16日）至2025年12月31日期间签订贷款合同且相关贷款资金发放至 经营主体。三是贷款资金合规用于改善消费基础设施和提升服务供给能力。其中：餐饮住宿、托育、家 政、文化娱乐、体育领域对应《国民经济行业分类》中"住宿和餐饮业"、"居民服务、修理和其他服务 业"、"文化、体育和娱乐业"行业类别；旅游、健康领域对应《国家旅游及相关产业统计分类 （2 ...

Core Points - The Ministry of Finance announced a loan interest subsidy policy to stimulate consumption and expand domestic demand, in line with the central government's directives [1] - The policy aims to reduce financing costs for service industry operators and enhance market vitality through high-quality supply [1] Summary by Sections Support Scope - The subsidy applies to loans issued by banks to eight service sectors: catering and accommodation, health, elderly care, childcare, housekeeping, cultural entertainment, tourism, and sports [2] - Loans must be signed between March 16, 2025, and December 31, 2025, and funds must be used to improve consumption infrastructure and enhance service supply capabilities [2] - Eligible operators include individuals, legal entities, and non-legal entities engaged in profit-making activities within China [2] - The policy may be extended or expanded based on its effectiveness after the initial term [2] Subsidy Standards - The subsidy covers loans issued to service industry operators, with a maximum interest subsidy period of one year and an annual subsidy rate of 1% [3] - The central and provincial finances will bear 90% and 10% of the subsidy costs, respectively [3] - The maximum loan amount eligible for the subsidy is 1 million yuan, and the loans must not overlap with other central or local subsidy policies [3]

Core Points - The Ministry of Finance and nine other departments issued the "Implementation Plan for Loan Interest Subsidy Policy for Service Industry Operating Entities" [1] - The policy aims to support service industry entities by providing interest subsidies on loans issued by banks [1] Group 1: Loan Subsidy Details - The subsidy covers loans issued to service industry entities, with a maximum interest subsidy rate of 1% per year for a period not exceeding one year [1] - The maximum loan amount eligible for the subsidy is 1 million yuan per entity [1] - The subsidy applies to fixed asset loans for improving consumption infrastructure and working capital loans for enhancing service supply capacity [1] Group 2: Eligibility Criteria - Eligible entities include those in eight service sectors: catering, accommodation, health, elderly care, childcare, housekeeping, cultural entertainment, tourism, and sports [2] - Loans must be contracted between March 16, 2025, and December 31, 2025, with funds disbursed to the operating entities [2] - Loan funds must be used for compliant activities aimed at improving consumption infrastructure and service supply capacity [3] Group 3: Compliance and Oversight - The policy emphasizes strict control over fund allocation, prohibiting misuse of loan funds for real estate development or speculative investments [4] - Banks must ensure compliance with relevant audits and checks when applying for subsidy funds [4] - The policy may be extended or expanded based on its implementation effectiveness after the initial term [4]

Core Points - The Ministry of Finance and eight other departments have issued a loan interest subsidy policy for service industry operators in eight consumer sectors [1][2] - The subsidy applies to loans issued from March 16, 2025, to December 31, 2025, for improving consumption infrastructure and enhancing service supply capacity [1] - The subsidy standard is set at 1% per annum for a maximum loan amount of 1 million yuan per entity, with the central and provincial finances covering 90% and 10% of the subsidy, respectively [1] Summary by Sections Policy Implementation - The policy aims to support service industry operators in sectors such as catering, health, elderly care, childcare, housekeeping, cultural entertainment, tourism, and sports [1] - Eligible service industry operators can apply for loans from 21 designated national banks, which will assess applications based on market-oriented and legal principles [2] Loan Conditions - Loans must be used for specific purposes, including improving consumption infrastructure and enhancing service supply capabilities [1] - Banks are required to sign loan contracts with eligible operators, detailing the conditions for subsidy eligibility, loan usage, and post-loan management [2]

财政部 民政部 人力资源社会保障部 商务部 文化和旅游部 国家卫生健康委 中国人民银行 金融监管总局 体育总局关于印发 《服务业经营主体贷款贴息政策实施方案》的通知 财金〔2025〕81号 各省、自治区、直辖市、计划单列市财政厅（局）、民政厅（局）、人力资源社会保障厅（局）、商务 主管部门、文化和旅游厅（局）、卫生健康委、体育行政部门，新疆生产建设兵团财政局、民政局、人 力资源社会保障局、商务局、文化体育广电和旅游局、卫生健康委，财政部各地监管局，中国人民银行 上海总部及各省、自治区、直辖市、计划单列市分行，金融监管总局各监管局，有关金融机构： 为贯彻落实党中央和国务院关于大力提振消费、全方位扩大国内需求的决策部署，我们研究制定了《服 务业经营主体贷款贴息政策实施方案》，现印发给你们，请认真贯彻落实。 财政部 民政部 人力资源社会保障部 商务部 文化和旅游部 国家卫生健康委 中国人民银行 金融监管总局 体育总局 2025年8月6日 服务业经营主体贷款贴息政策实施方案 为贯彻落实党中央和国务院关于大力提振消费、全方位扩大国内需求的决策部署，根据中央办公厅、国 务院办公厅印发的《提振消费专项行动方案》关于2025 ...

财政部等九部门印发《服务业经营主体贷款贴息政策实施方案》，具体内容如下。 服务业经营主体贷款贴息政策实施方案 为贯彻落实党中央和国务院关于大力提振消费、全方位扩大国内需求的决策部署，根据中央办公厅、国 务院办公厅印发的《提振消费专项行动方案》关于2025年对符合条件的消费领域服务业经营主体贷款给 予财政贴息的要求，充分发挥财政政策引导带动作用，推动降低服务业经营主体融资成本，助力激发消 费市场活力，以高质量供给创造有效需求，制定本实施方案。 一、政策内容 （一）支持范围。同时符合以下条件的贷款可享受贴息政策：一是由经办银行向餐饮住宿、健康、养 老、托育、家政、文化娱乐、旅游、体育8类消费领域服务业经营主体发放。二是在《提振消费专项行 动方案》公开发布之日（2025年3月16日）至2025年12月31日期间签订贷款合同且相关贷款资金发放至 经营主体。三是贷款资金合规用于改善消费基础设施和提升服务供给能力。其中：餐饮住宿、托育、家 政、文化娱乐、体育领域对应《国民经济行业分类》中"住宿和餐饮业"、"居民服务、修理和其他服务 业"、"文化、体育和娱乐业"行业类别；旅游、健康领域对应《国家旅游及相关产业统计分类 （2 ...

Overall Situation - In July 2025, the provincial market supervision 12315 institutions received a total of 41,230 consumer complaints, reports, and consultations, marking a year-on-year increase of 27.39% and a month-on-month increase of 5.21% [1] - Among these, there were 18,559 complaints, which is a 40.65% increase year-on-year and a 6.56% increase month-on-month, accounting for 45.01% of the total [1] - The total economic loss recovered for consumers from complaints was 3.635 million yuan [1] Complaint Hotspot Analysis - Of the 18,559 complaints, 11,706 were related to goods, making up 63.07% of the total complaints, while 6,853 were service-related, accounting for 36.93% [5] - The top three categories of goods complaints were food, clothing and footwear, and household goods, showing no change from the previous month [5] - For service-related complaints, the top three categories were dining and accommodation services, education and training services, and cultural, entertainment, and sports services [6] Report Situation Analysis - In July 2025, a total of 6,699 reports were received, with the top reported issues being advertising violations, infringement of consumer rights, and food safety violations [9] - Advertising violations accounted for 20.42% of the reports, totaling 1,368 cases, primarily reflecting issues of false advertising by businesses [9] Consultation Situation - The 12315 institutions received 15,972 consultations, which is a year-on-year increase of 13.60% and a month-on-month increase of 1.95% [10] - The main consultation topics included consumer rights protection knowledge (8,761 cases), service consumption regulation (104 cases), and other market regulation issues [10] Consumer Tips - Consumers are advised to choose reputable platforms and merchants, especially those with "food safety seals" to avoid contamination risks [11] - It is recommended to pay attention to delivery times, particularly in high temperatures, to ensure food safety [12] - Consumers should check the integrity of packaging upon receipt and ensure proper reheating of food to avoid health risks [12]

Core Insights - The number of companies applying for standard bankruptcy procedures in Germany increased by 19.2% year-on-year in July 2025, marking the largest increase since October of the previous year [1] - The Federal Statistical Office noted that standard bankruptcy procedures are only included in statistics after the first ruling by the bankruptcy court, indicating that actual bankruptcy applications often occur about three months earlier [1] Bankruptcy Statistics - In May, a total of 2,036 companies reported bankruptcy applications, representing a 5.3% increase compared to the same month last year [1] - The total claims from creditors amounted to approximately €3.2 billion, which is lower than the €3.4 billion reported in the same period last year [1] - The transportation and storage sector experienced the highest frequency of bankruptcies, with 10.9 bankruptcies per 10,000 companies, followed by the construction sector (9.4) and the accommodation and food service sector (9.0) [1] Economic Context - Economic experts from the German Chamber of Commerce and Industry (DIHK) indicated that the economic crisis in Germany is ongoing, with the past two years of economic recession having weakened the liquidity of many companies [1] - The Halle Institute for Economic Research (IWH) suggested that the increase in bankruptcies is not only related to economic downturns but also to the long-term effects of low interest rates that previously suppressed bankruptcies and government support during the pandemic that allowed some already fragile companies to survive [1] - Since mid-2022, rising interest rates and the cessation of aid have triggered a "compensatory effect" leading to increased corporate bankruptcies [1]

Core Points - A recent incident in Qingcheng Mountain Town, Sichuan Province, where a tourist was asked to pay a "toll fee" by a tea house, has drawn public attention [1] - The local government confirmed that the dispute occurred on August 2, and the tourist did not make any purchases or pay any fees [1] - The involved tea house has been criticized and has issued a sincere apology to the tourist [1] Government Response - The Qingcheng Mountain Town government has organized training for tourism service providers to enhance service quality and staff capabilities [1] - A commitment has been made to conduct ongoing special inspections of the tourism market to ensure a civilized, safe, and orderly operation [1]

Economic Overview - The latest data indicates that the US economy is facing increasing risks of stagflation, with the services PMI almost stagnating and the manufacturing PMI dropping to a near one-year low, suggesting a complex situation of slowing economic activity and persistent inflation pressures [1][4] Services Sector - In July, the services PMI fell from 50.8 in June to 50.1, significantly below the market expectation of 51.5, indicating that the expansion pace of the services sector has nearly halted [2] - The services price index rose from 67.5 in June to 69.9 in July, approaching levels seen at the end of 2022, reflecting ongoing inflation pressures in the services sector due to tariffs and immigration policies [2] - The employment index decreased from 47.2 to 46.4, indicating a contraction in hiring levels and a weakening job market [2] Manufacturing Sector - The manufacturing PMI declined from 49 in June to 48 in July, falling short of the market expectation of 49.5, further exacerbating the contraction trend [3] - Although the output index showed an acceleration in expansion, the new orders index slightly rebounded but remained in the contraction zone, with employment contraction reaching a near one-year high [3] - The price index decreased from 69.7 to 64.8, indicating a slowdown in inflation pressure, yet it remains significantly above the post-pandemic average [3] Federal Reserve Policy - The PMI data reveals stagflation risks, presenting the Federal Reserve with a challenging policy decision in the third quarter, balancing a weakening job market against rising inflation due to tariffs [4] - Market expectations suggest that the Federal Reserve may maintain interest rates in September but could lower rates in October and December, with year-end policy rates projected to drop to 3.75%-4% [4] - The current economic conditions, characterized by slowing growth and a pressured job market alongside persistent inflation, complicate the Federal Reserve's monetary policy path [4]