Core Viewpoint - The article discusses the implementation of personal consumption loan interest subsidy policies in various regions of China, highlighting the differences in subsidy targets, standards, processes, funding sources, and effects of these policies [1][10]. Group 1: Subsidy Targets and Types - Three regions (Sichuan, Chongqing, and Hangzhou's Yuhang District) have implemented interest subsidies for personal consumption loans, but with different conditions: Sichuan limits eligible products to automobiles, electronics, home renovations, and household appliances; Chongqing restricts eligible merchants to specific home improvement and appliance sectors; Yuhang District targets low-income households with a maximum annual disposable income of 100,000 yuan [2][11]. Group 2: Interest Subsidy Standards - The interest subsidy rates are generally around 1.5%, with Sichuan and Chongqing initially at 1.5% and later raised to 2% in Chongqing. Yuhang District's rate does not exceed 1.5%. Current consumer loan rates are above 3%, indicating that the subsidies provide a significant reduction in borrowing costs [3][12]. Group 3: Loan Application Process - The process for obtaining the subsidy involves several steps: residents sign a loan contract with a bank, make a purchase, submit documentation for the subsidy, and undergo a review process before the subsidy is disbursed [3][13]. Group 4: Funding Sources - Funding for the subsidies primarily comes from local government finances. For instance, in Sichuan, the funding is shared between provincial and municipal governments at an 80:20 ratio. In Yuhang District, the provincial government covers 60% and the district government 40% of the subsidy, with the remaining portion covered by local banks [4][15]. Group 5: Ensuring Fund Usage - To ensure that the funds are used appropriately, applicants must provide documentation proving the intended use of the loan. Banks are required to conduct thorough reviews and maintain records for audits, while multiple levels of regulatory oversight are in place [5][16]. Group 6: Policy Effects - In Sichuan, as of April 2025, nearly 60 million yuan in subsidies have been disbursed, impacting over 40 billion yuan in consumer loans and benefiting approximately 27,000 individuals. The net increase in consumer loans in 2024 was 133.5 billion yuan, suggesting that the subsidy has a relatively small impact on overall loan growth, although there was a noticeable increase in loan growth rate from 7.2% to 8.1% in the first month of policy implementation [6][17].