Group 1: Policy Overview - The notice regarding the large-scale equipment update and consumer goods trade-in policy will be released on December 30, 2025, outlining the support scope, subsidy standards, and work requirements for the "Two New" policy in 2026 [1]. Group 2: Equipment Updates - The policy will enhance equipment updates in the livelihood sector, including the installation of elevators in old residential areas and the updating of equipment in elderly care institutions [3]. - In the safety sector, the policy will increase updates for firefighting and rescue equipment, as well as inspection and testing equipment [3]. - The policy will also focus on updating equipment in consumer infrastructure, such as commercial complexes, shopping centers, department stores, and large supermarkets [3]. - The subsidy for updating old residential elevators will be adjusted from a fixed amount to a tiered subsidy based on the number of elevator floors [7]. Group 3: Consumer Goods Trade-In - The trade-in policy for consumer goods will concentrate resources on key consumer products with a broad coverage and strong driving effect [5]. - The subsidy for scrapping old operational trucks will prioritize support for the replacement with electric trucks [8]. - The subsidy for trade-in of old cars will remain capped for automobiles, with a shift from fixed subsidies to a percentage of the vehicle price [10]. Group 4: Specific Subsidy Standards - For scrapped eligible old vehicles replaced with new energy passenger cars, a subsidy of 12% of the new car sales price (including tax) will be provided, with a maximum subsidy of 2 million [12]. - For scrapped eligible fuel passenger cars replaced with fuel passenger cars with an engine displacement of 2.0 liters or less, a subsidy of 10% of the new car sales price will be provided, with a maximum subsidy of 15,000 [13]. - For eligible trade-ins of new energy passenger cars, a subsidy of 8% of the new car sales price will be provided, with a maximum subsidy of 15,000 [15]. - The trade-in for eligible fuel passenger cars will receive a subsidy of 6% of the new car sales price, with a maximum subsidy of 13,000 [15]. Group 5: Home Appliances and Digital Products - The home appliance trade-in policy will be adjusted to provide a subsidy of 15% for products meeting the 1st-level energy efficiency or water efficiency standards, with a maximum subsidy of 1,500 per item [17][18]. - The eligible home appliances include refrigerators, washing machines, televisions, air conditioners, water heaters, and computers [18]. - The subsidy standards for digital and smart products will remain unchanged, providing a 15% subsidy for items priced under 6,000, with a maximum subsidy of 500 per item [20].

Core Insights - The province's consumer goods trade-in program is projected to achieve over 300 billion yuan in sales by 2025, benefiting approximately 19 million people and promoting green, intelligent, and low-carbon products [1][2] Group 1: Policy Implementation - In 2026, the province will continue and optimize the consumer goods trade-in policy, focusing on upgrading consumption and improving livelihoods [1] - The policy will target high-demand sectors such as automobiles, home appliances, and 3C digital products, with a specific emphasis on popular items like air conditioners, refrigerators, and televisions [1] Group 2: Green and Intelligent Products - The 2026 policy will expand subsidies to include emerging fields like smart terminals, including AI glasses, to foster new consumption growth points and accelerate the adoption of green and intelligent products [1] Group 3: Support for Rural Areas and Offline Entities - The policy will enhance support for offline entities and rural areas, promoting balanced development between online and offline channels [2] - Initiatives like "new energy vehicles to the countryside" and "home appliances to the countryside" will continue to ensure rural residents benefit equally from policy advantages [2] Group 4: Funding and Implementation Stability - National subsidy funds will be allocated on a monthly basis to ensure stable and orderly implementation of the policy, avoiding fluctuations [2]

Group 1: Fiscal Performance and Economic Support - In 2025, Qingdao's local general public budget revenue reached 134.07 billion yuan, with tax revenue at 95.05 billion yuan [1] - The city implemented a proactive fiscal policy to support economic recovery, including securing 67.7 billion yuan in new special bonds for 307 key projects, with total project investments exceeding 510 billion yuan [1] - The government provided 4.765 billion yuan to support consumption upgrades in sectors like automobiles and home appliances, and issued 180 million yuan in consumer vouchers [1] Group 2: Employment and Social Welfare - A total of 1.56 billion yuan was allocated to stabilize and expand employment, resulting in 360,700 new urban jobs [2] - The city supported education by funding the construction and renovation of 20 schools and kindergartens, and provided nearly 100 million yuan for student assistance [2] - Social security measures included increasing the basic pension subsidy by 20 yuan and the medical insurance subsidy by 30 yuan, reaching 880 yuan and 800 yuan per person per year respectively [2] Group 3: Fiscal Management and Governance - The city emphasized strict control over general expenditures and "three public" expenses, aiming to enhance fiscal management through a comprehensive pilot program [3] - Efforts were made to ensure adequate funding for grassroots "three guarantees" expenditures and to strengthen financial supervision to ensure the safe and compliant use of fiscal funds [3] - The fiscal department plans to continue implementing effective fiscal policies to support high-quality development in the coming year [3]

Core Points - The Hainan Provincial Government has implemented a new subsidy policy for the replacement of home appliances and digital products starting January 1, 2026, offering a 15% subsidy based on the final sales price of eligible products [1][2] - The subsidy covers six categories of home appliances, including refrigerators, washing machines, televisions, air conditioners, computers, and water heaters, with a maximum subsidy of 1,500 yuan per item [1] - For digital products, including smartphones, tablets, smartwatches, and smart glasses, the subsidy is also 15% of the final sales price, with a maximum of 500 yuan per item [1] Subsidy Details - The subsidy is available to individual consumers, with each consumer eligible for one subsidy per product category [1] - The China UnionPay Cloud Flash Payment platform has been selected as the provincial service platform for the subsidy program [1] - Consumers can apply for the subsidy through the Cloud Flash app, completing a verification process before making purchases either online or in physical stores [2] Application Process - For offline shopping, consumers must download the Cloud Flash app, bind their bank card, and complete real-name verification to apply for the subsidy [2] - For online shopping, the same app and verification process apply, allowing consumers to pay only the amount after the subsidy is deducted [2] - For inquiries regarding the subsidy details, consumers can contact the local business administration or call 95516 [2]

同日，商务部等部门发布关于做好2026年家电以旧换新、数码和智能产品购新补贴工作的通知：2026年 1月1日起，按照全国统一的品类和标准，对个人消费者购买1级能效或水效标准的冰箱、洗衣机、电 视、空调、热水器、电脑6类家电产品，以及单件销售价格不超过6000元的手机、平板、智能手表（手 环）、智能眼镜4类数码和智能产品给予补贴。补贴标准为上述产品扣除各环节优惠后最终销售价格的 15%，每人每类可补贴1件，其中，家电产品每件补贴不超过1500元，数码和智能产品每件补贴不超过 500元。 来源：新华社 据新华社电 商务部等部门昨日发布关于2026年汽车以旧换新补贴实施细则，明确参与申领2026年汽车 报废更新补贴旧车的注册登记时间，相比2025年进一步扩大支持范围。 2026年汽车报废更新中，若参与申领补贴的报废旧车为汽油乘用车，则其注册登记时间应在2013年6月 30日（含当日，下同）之前；若参与申领补贴的报废旧车为柴油及其他燃料乘用车，则其注册登记时间 应在2015年6月30日之前；若参与申领补贴的报废旧车为新能源乘用车，则其注册登记时间应在2019年 12月31日之前。报废更新最高补2万元，置换更新最高补1 ...

Group 1: National Subsidy Policies - The 2026 national subsidy policy focuses on four categories: vehicle scrapping, vehicle replacement, home appliances, and digital/智能 products, with the exclusion of home decoration and electric bicycles compared to 2025 [2] - In the automotive sector, subsidies will be based on a percentage of the new car price (12% or 10%), with a cap of 20,000 yuan or 15,000 yuan, maintaining the 2025 standards [2] - The home appliance subsidy has been reduced from 20% to 15%, with the maximum subsidy per appliance decreasing from 2,000 yuan to 1,500 yuan, indicating a tightening of product eligibility [2] Group 2: Manufacturing and Economic Indicators - The manufacturing PMI rose to 50.1% in December, marking the first time it exceeded the critical point since April, indicating an expansion in the manufacturing sector [4] - The production index and new orders index for manufacturing were reported at 51.7% and 50.8%, respectively, showing improvements compared to the previous month [4] - Large enterprises returned to expansion with a PMI of 50.8%, while high-tech manufacturing led with a PMI of 52.5%, reflecting strong demand in these sectors [4][5] Group 3: Real Estate Tax Policy - Starting January 1, 2026, individuals selling homes purchased for less than two years will pay a 3% VAT, while those selling homes purchased for two years or more will be exempt from VAT [6] - The reduction of VAT from 5% to 3% for newly purchased homes aims to lower transaction costs, potentially stimulating sales, although the overall impact may be limited due to the small proportion of such transactions in the market [6][7] Group 4: Global Economic Developments - India's GDP has surpassed Japan's, making it the fourth-largest economy globally, with a projected growth rate of 8.2% for the second quarter of the 2025-2026 fiscal year [8] - The Indian government is focusing on boosting domestic manufacturing and creating high-paying jobs for its young population, which poses a significant challenge [9] Group 5: Semiconductor Equipment Exports - The U.S. has approved Samsung and SK Hynix to export semiconductor manufacturing equipment to China starting in 2026, requiring annual approval for the types and quantities of equipment [10] - This arrangement allows Korean companies to maintain production capacity in China while potentially limiting their long-term strategic planning in the region [11] Group 6: Stock Market Performance - The South Korean stock market saw a nearly 76% increase in 2025, the largest since 1999, driven by strong performances from major companies like Samsung and SK Hynix [14] - Japan's stock market also performed well, closing at a record high, supported by government spending and improved trade relations with the U.S. [15] - The A-share market experienced a significant annual increase, with the Shanghai Composite Index rising 18.41% and the total market capitalization reaching nearly 109 trillion yuan [16]

Group 1 - The "Charming Xixiangtang Renewed Consumption Season" cross-year consumption event was launched to enhance consumer potential and promote local brands [1] - The event is organized by the Xixiangtang District People's Government in collaboration with Sichuan Changjiang Group, focusing on key sectors such as retail, dining, automotive, home appliances, and cultural tourism [1] - The event features a variety of activities including online and offline promotions, with special segments like fuel consumption vouchers, New Year goods promotions, family reunion dinners, and vehicle trade-in discounts [1] Group 2 - The "Daxia Premium Traceability Music Festival" is a highlight of the event, aiming to promote local agricultural products through a nationwide traceability system [2] - The music festival combines agriculture, commerce, culture, and tourism, allowing citizens to enjoy music while experiencing local products and shopping discounts [2] - Additional attractions include drone countdowns, fire shows, and various performances such as ice and snow parks, high-altitude dances, and magic shows, providing rich experiences for visitors [2]

Core Viewpoint - The article highlights a general decline in various industrial sectors, including power generation, steel production, real estate sales, and consumer goods, indicating a weakening economic environment as of December 2023. Group 1: Power Generation and Industrial Activity - Power generation from coal-fired plants has decreased by 8.5% year-on-year as of December 25, compared to a decline of 7.2% in November, reflecting weak demand during the off-peak season and the impact of a warm winter [1][7] - Industrial operating rates are also showing seasonal weakness, with most sectors, except for downstream automotive tire production, reporting lower year-on-year operating rates [1][7] Group 2: Steel Production - Key steel mills reported a daily average crude steel output decrease of 2.0% month-on-month and 5.1% year-on-year as of the third week of December [9] - By the fourth week of December, rebar production fell by 10.7% month-on-month and 16.4% year-on-year, while hot-rolled coil production decreased by 4.6% month-on-month and 3.9% year-on-year [9] Group 3: Construction and Infrastructure - There has been a marginal improvement in the funding availability rate for construction sites, with a 0.15 percentage point increase as of December 23 [11] - The operating rate for petroleum asphalt has turned positive month-on-month, increasing by 0.83 percentage points, indicating a potential recovery in the construction sector [11] Group 4: Consumer Behavior and Retail Sales - Real estate sales continue to show weakness, with a year-on-year decline of 31.3% in average daily transaction area for commercial housing in 30 major cities from December 1 to 30 [15] - Retail sales of passenger cars have also decreased significantly, with a year-on-year drop of 17% from December 1 to 28, while wholesale sales fell by 19% [16] Group 5: Home Appliances and Consumer Goods - Sales of home appliances remain in negative growth territory, with online sales of air conditioners, refrigerators, and washing machines declining by 48% to 29% year-on-year [17][18] - The production of home appliances is expected to turn positive in January 2024, although there may be disruptions due to the Spring Festival [17][20] Group 6: Port Activity and Trade - Port container throughput remains resilient, with a year-on-year increase of 7.2% from December 1 to 28, although the growth rate has slowed compared to November [20] - The number of container ships sent to the U.S. has seen a reduced year-on-year decline, indicating some stabilization in trade activities [20]

Group 1 - The core event "New Year Consumption Season" in Tianjin's Hedong District is set to last nearly three months, starting from the launch on the evening of the event [1] - The consumption season will cover various sectors including retail, dining, culture, sports, family activities, and home appliances [1] - Key commercial areas such as Jinmao Hui, Kerry Hui, and China Ocean Euro Style Street are positioned as core nodes of the Haihe East Commercial Belt, creating an immersive shopping experience [1] Group 2 - The event features diverse promotional activities, including government consumption vouchers distributed through the Construction Bank Life App, covering seven major commercial complexes [1] - Various themed festivals and activities are scheduled, such as the "Cyber Music Festival" at Jinmao Hui and the "Fantasy Fairy Tale Drama Festival" at Le Di Port [1] - The launch coincides with the third anniversary celebration of Jinmao Hui, enhancing the festive atmosphere [2]

商务部消费促进司负责人在解读通知时指出，2026年继续实施汽车、家电、手机等数码产品等传统 领域补贴政策，在保持政策总体延续稳定基础上，适当优化补贴品类和标准。同时，将补贴范围扩大至 智能终端等新兴领域，培育壮大消费新动能，带动新技术、新装备、新产业发展。 该负责人指出，2026年消费品以旧换新工作加强全国统筹，汽车置换更新等领域补贴政策由地方自 主制定调整为全国统一。同时，给予地方更多自主空间，允许各地在消费品以旧换新政策框架内，以智 能产品为重点支持方向，因地制宜合理自主制定实施补贴政策，充分调动地方积极性、扩大消费品以旧 换新政策效果。 本报北京12月31日电 记者董蓓31日从商务部获悉，近日，商务部、国家发展改革委、工业和信息化部 等7部门联合印发《关于提质增效实施2026年消费品以旧换新政策的通知》，进一步细化完善2026年消 费品以旧换新具体举措，提升政策实施质效。 通知强调，2026年，中央继续安排超长期特别国债资金，各地按比例安排配套资金，支持消费品以 旧换新政策实施。全国统一明确汽车报废更新、汽车置换更新、6类家电以旧换新、4类数码和智能产品 购新等四个领域的补贴标准、组织实施方式等工作要求 ...