本报记者 韩 昱 财政部8月12日发布消息称，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，根据中共中央办公厅、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，财政部、民政部等九部门 制定了《服务业经营主体贷款贴息政策实施方案》（以下简称《实施方案》），已正式印发。 朱华雷分析，这可显著降低符合条件经营主体的融资成本，有利于企业扩大经营规模。 宋向清表示，此项贷款贴息政策主要针对服务业经营主体，预计可直接降低企业融资成本，缓解中小微 企业现金流压力。同时也有望成为服务业提质增效的"加速器"，推动企业服务升级，提升行业竞争力， 提升消费者的体验，继而为服务业高质量发展奠定基础。 （责任编辑：蔡情） 陕西巨丰投资资讯有限责任公司高级投资顾问朱华雷也告诉《证券日报》记者，消费作为拉动经济增长 的重要引擎，其活力的激发对于经济的稳定发展至关重要。此次政策的出台和实施，旨在通过财政金融 联动的方式降低服务业经营主体 ...

Core Viewpoint - The implementation of loan interest subsidy policies for service industry operators and personal consumption loans aims to alleviate financing pressure and stimulate consumer spending, with the central government covering 90% of the subsidy costs [1][2]. Group 1: Loan Subsidy Policies - The annual interest subsidy rate for both service industry loans and personal consumption loans is set at 1 percentage point, with a maximum subsidy amount of 10,000 yuan per eligible entity [1]. - The subsidy for service industry loans will be available from March 16, 2025, to December 31, 2025, while personal consumption loan subsidies will be implemented by various banks starting September 1, 2025 [1][2]. - The policies are designed to support specific sectors within the service industry, including catering, health, elderly care, childcare, home services, cultural entertainment, tourism, and sports [2]. Group 2: Economic Impact - The subsidy policies are expected to significantly reduce the interest burden on service industry operators, with the average interest rate for new corporate loans around 3.3% [2]. - The policies are aligned with the urgent need for economic recovery and aim to enhance service capacity and infrastructure in the service sector [2]. - The estimated maximum subsidy scale for the specified service sectors could reach 18.2 billion yuan [2]. Group 3: Personal Consumption Loan Details - The personal consumption loan subsidy will cover various consumer needs, including household appliances, education, healthcare, and automotive purchases, with a cumulative subsidy cap of 3,000 yuan per borrower [3]. - The subsidy for individual loans under 50,000 yuan will have a maximum cap of 1,000 yuan, while loans above this amount will be subsidized based on a 50,000 yuan threshold [3]. - The policy aims to lower the actual financing costs for residents, particularly targeting high-frequency consumption areas [3].

Group 1 - The core viewpoint emphasizes the implementation of personal consumption loan interest subsidy policies to stimulate domestic demand and consumption [1][2] - The policy includes a 1% annual interest subsidy for loans used for consumption, covering various categories such as household appliances, automobiles, education, and healthcare [1] - The service industry is a primary focus of the subsidy policy, with a maximum loan amount of 1 million yuan for service providers in sectors like hospitality, healthcare, and entertainment [1] Group 2 - The recent Central Political Bureau meeting highlighted the need to effectively release domestic demand potential and cultivate new growth points in service consumption [2] - Structural monetary policy tools are being utilized to support consumption and reduce overall financing costs, indicating a reliance on fiscal and financial measures to stimulate spending [2] - The growth of disposable income is crucial for sustainable consumption growth, necessitating stronger economic performance to drive consumer spending [2] Group 3 - Industrial upgrading is often driven by technological advancements, which can enhance profit margins and increase purchasing power, thereby expanding consumption [3] - There is a need to address "involution" in competition, encouraging companies to focus on long-term brand building and high-quality supply to meet the demands of the middle-income group [3] - The goal is to create more middle-income individuals through technological and brand advancements, facilitating a cycle of consumption that supports economic growth [3]

在贴息标准方面，年贴息比例为1个百分点，且最高不超过贷款合同利率的50%，中央财政、省级财政 分别承担贴息资金的90%、10%。贷款合同利率需要符合相应利率自律约定。政策执行期内，每名借款 人在一家贷款经办机构可享受的全部个人消费贷款累计贴息上限为3000元（对应符合条件的累计消费金 额30万元），其中在一家贷款经办机构可享受单笔5万元以下的个人消费贷款累计贴息上限为1000元 （对应符合条件的累计消费金额10万元）。 《服务业经营主体贷款贴息政策实施方案》规定，同时符合以下条件的贷款可享受贴息政策：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； 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；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。 财政部近日联合有关部门发布《个人消费贷款财政贴息政策实施方案》《服务业经营主体贷款贴息政策 实施方案》，分别明确个人消费贷款财政贴息政策、服务业经营主体贷款贴息政策具体事项。 《个人消费贷款财政贴息政策实施方案》规定，2025年 ...

通过财政贴息，符合条件的服务业经营主体贷款与个人消费贷款可享受贴息政策——8月12日，《服务 业经营主体贷款贴息政策实施方案》和《个人消费贷款财政贴息政策实施方案》（以下合称"实施方 案"）正式公布。两项贷款贴息政策的年贴息比例均为1个百分点，中央财政将承担贴息资金的90%， 以"真金白银"减轻服务业经营主体融资压力、激发居民消费潜力。 田利辉指出，家用汽车、教育医疗等高频消费场景受季节性影响显著，例如"金九银十"往往是汽车销售 旺季。贴息政策延迟至9月启动，不仅为金融机构预留了系统改造和风控准备的时间，也确保政策红利 能够覆盖全年消费高峰，实现"以时间换空间"的政策效果最大化。 个人消费贷款贴息政策执行期内，每名借款人在一家贷款经办机构可享受的全部个人消费贷款累计贴息 上限为3000元，其中在一家贷款经办机构可享受单笔5万元以下的个人消费贷款累计贴息上限为1000 元。 根据实施方案，个人消费贷款贴息范围包括单笔5万元以下消费，以及单笔5万元及以上的家用汽车、养 老生育、教育培训、文化旅游、家居家装、电子产品、健康医疗等重点领域，基本可覆盖普通居民各类 日常生活性消费以及相对支出规模较大的重点领域消费。对于 ...

Core Points - The Ministry of Finance and eight other departments have issued a policy to provide interest subsidies for loans to service industry operators in eight consumer sectors [1][2] - The eligible sectors include catering, accommodation, health, elderly care, childcare, housekeeping, cultural entertainment, tourism, and sports [1] - The interest subsidy is set at 1% per annum for a maximum period of one year, 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 by subsidizing loans that meet specific criteria [1] - Loans must be contracted between March 16, 2025, and December 31, 2025, and funds must be used to improve consumer infrastructure and enhance service capabilities [1] Loan Details - The maximum loan amount eligible for the subsidy is 1 million yuan, which can be used for fixed asset loans and working capital loans [1] - A total of 21 national banks are designated as the lending institutions for these loans [2] Application Process - Eligible service industry operators can apply for loans at their local banks, providing necessary documentation [2] - Banks will assess loan applications based on market-oriented and legal principles, determining the terms and conditions for loan disbursement [2]

Core Viewpoint - The Ministry of Finance has announced a loan interest subsidy policy aimed at boosting consumption and expanding domestic demand, which is part of a broader initiative to stimulate the economy and enhance service sector capabilities [1][2]. Group 1: Policy Implementation - The implementation plan specifies that loans issued to service industry entities in eight sectors, including catering, health, and tourism, will be eligible for interest subsidies [2]. - Loans must be contracted between March 16, 2025, and December 31, 2025, and funds must be used to improve consumption infrastructure and service supply capabilities [2]. - The policy may be extended or expanded based on its effectiveness after the initial term [2]. Group 2: Economic Impact - The loan interest subsidy policy is seen as a crucial measure to balance short-term economic stimulation with long-term structural optimization [2]. - The policy aims to lower financing costs for service industry entities, thereby enhancing consumer spending potential and promoting economic growth [2][3]. - It is expected to directly reduce financing costs for eligible businesses, alleviating cash flow pressures for small and medium-sized enterprises [3]. Group 3: Financial Details - The subsidy will cover up to 1% of the loan principal for a maximum period of one year, with the central and provincial finances sharing the subsidy costs at 90% and 10%, respectively [3]. - Each eligible entity can receive subsidies for loans up to 1 million yuan, which can include both fixed asset loans and working capital loans [3]. - The policy prohibits double-dipping on subsidies from other central or local financial programs [3].

Core Viewpoint - The Ministry of Finance, the People's Bank of China, and the Financial Regulatory Administration have issued a policy for fiscal subsidies on personal consumption loans, effective from September 1, 2025, to August 31, 2026, aimed at stimulating consumer spending through subsidized interest rates [1] Group 1: Policy Details - The policy allows residents to enjoy interest subsidies on personal consumption loans (excluding credit card transactions) that are used for consumption, with the identification of relevant consumption transaction information by the lending institution [1] - The subsidy covers single transactions below 50,000 yuan and those above 50,000 yuan in key consumption areas such as automobiles, healthcare, education, and home decoration [1][2] - The policy may be extended or expanded based on its implementation effectiveness after the expiration date [1] Group 2: Key Consumption Areas - Key areas eligible for subsidies include: - Household automobiles, including purchase, insurance, and maintenance [2] - Elderly care and childbirth services, including home modifications and childcare [2] - Education and training, covering certification training and continuing education [2] - Cultural tourism, supporting domestic travel services through qualified agencies [2] - Home decoration, including renovations and household appliances [2] - Electronic products, such as smartphones and personal computers [2] - Health and medical services, including dental and vision correction [2] Group 3: Financial Terms - The annual subsidy rate is set at 1% of the eligible personal consumption loan principal, capped at 50% of the loan contract interest rate [3] - The total subsidy limit for each borrower at one lending institution is 3,000 yuan, corresponding to a cumulative consumption amount of 300,000 yuan, with a separate limit of 1,000 yuan for loans below 50,000 yuan [3]

Core Viewpoint - The introduction of a personal consumption loan interest subsidy policy aims to stimulate consumer spending in China, addressing structural consumption issues and enhancing the quality of life for residents [2][3][4]. Group 1: Policy Overview - The policy, effective from September 1, 2025, to August 31, 2026, allows residents to enjoy interest subsidies on personal consumption loans used for consumption, excluding credit card transactions [2]. - The subsidy covers loans of less than 50,000 yuan and specifically targets key areas such as household vehicles, education, healthcare, and home improvement, thereby encompassing both essential and quality-of-life expenditures [3][4]. Group 2: Economic Impact - The subsidy is expected to lower the financial burden on consumers, making it easier for them to access high-quality services in various sectors, thus aligning with the goal of enhancing consumer spending [3][4]. - Previous pilot programs in regions like Sichuan and Chongqing demonstrated significant positive effects on consumption in sectors like home renovation and appliances, indicating the potential for a multiplier effect at the national level [3][4]. Group 3: Long-term Strategy - The policy is part of a long-term strategic initiative rather than a temporary measure, emphasizing the need for sustainable policy design to ensure ongoing economic benefits [4][5]. - The subsidy structure includes safeguards such as a cap on the subsidy rate and a significant share of funding from the central government, reflecting a commitment to boosting consumption while managing market stability [4][5]. Group 4: Broader Economic Cycle - The policy aims to create a virtuous cycle of improving household balance sheets, enhancing consumer capacity, and benefiting businesses, thereby fostering new productive forces in the economy [5]. - Collaboration among banks and other stakeholders is crucial for effective implementation, ensuring that the benefits of the subsidy reach consumers and contribute to economic growth [5].

8月12日，财政部等九部门联合发布《服务业经营主体贷款贴息政策实施方案》（下称《实施方 案》），对符合条件的服务业经营主体给予年贴息比例1个百分点、贴息期限不超过1年的财政贴息支 持，单户享受的最高贴息金额1万元。 支持范围为餐饮住宿、健康、养老、托育、家政、文化娱乐、旅游、体育等8类消费领域的服务业经营 主体贷款。同时要求，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。 财政部有关负责人就《实施方案》答记者问，指出服务业经营主体大多为中小企业和个体工商户，他们 一头连着从业者的生计，一头连着居民的生活，可持续经营普遍受到信贷支持规模、融资成本、现金流 稳定性等因素的影响。财政部牵头实施服务业经营主体贷款贴息政策，旨在通过"四两拨千斤"的杠杆效 应，为广大服务业经营主体提供更多低成本金融资源支持，助力进一步疏通实体经济"毛细血管"。 年贴息比例为1个百分点 记者注意到，享受贴息政策的贷款期限条件为，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的，按照贷款本金对经营主体 进行贴息。 在政策实施上，财政部有关负责人提出简化流 ...