来源：北京银行 我行将遵循市场化、法治化原则，进一步优化业务流程，精简办理手续，加快推进政策落地。具体办理 渠道与操作指引等实施细则，将通过北京银行官方网站、官方微信公众号、各地营业网点等渠道及时发 布，敬请留意。 我行办理个人消费贷款、信用卡账单分期、服务业经营主体、中小微企业以及设备更新贷款财政贴息不 收取任何服务费用，且未与任何贷款中介机构/个人开展合作。请广大客户务必提高警惕，谨防受骗。 为深入贯彻党中央、国务院关于提振消费、支持民间投资的决策部署，助力降低居民消费信贷、服务业 经营主体和中小微企业融资成本，更好释放消费潜力，依据《关于优化实施个人消费贷款财政贴息政策 有关事项的通知》（财金〔2026〕1号）、《关于优化实施设备更新贷款财政贴息政策的通知》（财金 〔2026〕2号）、《关于实施中小微企业贷款贴息政策的通知》（财金〔2026〕4号）和《关于优化实施 服务业经营主体贷款贴息政策的通知》（财金〔2026〕5号），我行正在积极有序推进个人消费贷款、 信用卡账单分期、服务业经营主体、中小微企业贷款以及设备更新贷款贴息政策的组织实施工作。 特此公告。 感谢您长期以来给予我行的支持与信任！ 北京银行 ...

我行办理上述贷款贴息不额外收取任何费用 ，没有委托官方渠道以外的任何机构、人员代为 办理，请广大客户谨防各种形式的诈骗，保障财产和信息安全。如您有任何疑问，欢迎咨询支行 网点或95555，我们将竭诚为您服务。 感谢您一直以来对我行的信任与支持！ 特此公告。 招商银行股份有限公司 2026年1月29日 招商银行 关于中小微企业及服务业 经营主体贷款贴息工作的公告 尊敬的招商银行客户： 为贯彻落实党中央、国务院关于促进民营经济发展壮大、激发民间投资活力及大力提振消 费、全方位扩大国内需求的决策部署，我行依据《关于实施中小微企业贷款贴息政策的通知》 （财金〔2026〕4号）和《关于优化实施服务业经营主体贷款贴息政策的通知》（财金〔2026〕5 号），有序推动贷款贴息相关工作。 对 2026年1月1日 起我行发放的、符合上述通知要求的中小微民营企业固定资产贷款和服务业 经营主体贷款进行贴息支持。对 2025年3月16日至2025年12月31日 期间发放的贷款，我行仍按照 《服务业经营主体贷款贴息政策实施方案》（财金〔2025〕81号）等有关规定执行贴息。我行将 持续优化办理流程，简化办理手续，推动政策尽快落地实施。 ...

Core Viewpoint - The recent fiscal and financial policies aim to stimulate domestic demand by optimizing interest subsidy policies for various loan types, thereby enhancing consumer spending and private investment [1][2][5]. Group 1: Policy Overview - Five fiscal and financial policies have been released, focusing on personal consumption loans, equipment upgrade loans, loans for small and micro enterprises, loans for service industry entities, and a special guarantee plan for private investment [1][2]. - The personal consumption loan subsidy has been expanded to include credit card installment payments, with an annual subsidy rate of 1% and no upper limit on single consumption subsidy amounts [1][2]. - A new subsidy policy for small and micro enterprise loans has been introduced, offering a 1.5% annual subsidy for fixed asset loans directed at specified key industries, with a maximum limit of 50 million yuan per borrower [2]. Group 2: Implementation and Impact - The policies are designed to enhance the precision of financial support, making it easier for more enterprises to access subsidies, thus increasing the overall effectiveness of the policies [3][5]. - Financial institutions play a crucial role in the implementation of these policies, as they are encouraged to monitor fund flows and improve risk control while expanding their loan offerings [4]. - The combination of these policies is expected to create a synergistic effect, promoting a virtuous cycle of production and consumption, ultimately leading to increased economic growth [5].

Core Viewpoint - The article discusses a series of financial subsidy policies aimed at promoting consumption and investment, particularly focusing on small and micro enterprises, personal consumption loans, and service industry loans [4][5]. Group 1: Policy Overview - On January 20, the Ministry of Finance, in collaboration with other departments, released a comprehensive set of financial subsidy policies to support small and micro enterprises, optimize personal consumption loans, and enhance service industry loans [4]. - The policies are designed to be "convenient and efficient," "precise and effective," and "standardized and efficient," with a focus on increasing subsidy amounts, broadening support areas, extending subsidy periods, and simplifying processes [5]. Group 2: Impact on Investment and Consumption - The new subsidy policies are expected to significantly enhance the scale of financial support compared to previous measures, thereby stimulating loan demand in relevant sectors and promoting effective investment and consumption [5][6]. - Specific measures include reducing financial burdens on small and micro enterprises, extending loan terms for service industry operators, and optimizing personal consumption loan subsidies to alleviate residents' interest payment pressures [6][7]. Group 3: Financial Projections - The estimated scale of the new subsidy policies is projected to be between 100 billion to 200 billion by 2026, with a significant portion allocated to small and micro enterprise loans and optimized personal consumption loans [8]. - The actual disbursement of subsidies may vary due to factors such as the scope of supported industries, the structure of client bases, and the willingness of the private sector to expand [8]. Group 4: Implications for the Banking Sector - The coordinated policies are expected to positively influence the banking sector's performance, particularly in small and micro finance and retail sectors, potentially catalyzing a favorable market environment for banks [9]. - As of January 20, A-share banks have seen a cumulative decline of 4.3%, underperforming the HS300 index by approximately 6.2 percentage points, indicating a potential opportunity for recovery in the banking sector due to these new policies [9].

Group 1: Fiscal Policy and Economic Support - The Chinese government plans to issue 1.3 trillion yuan in ultra-long-term special bonds in 2025 to support "two new" and "two heavy" initiatives, indicating a more proactive fiscal policy aimed at stabilizing the economy [1][2] - The fiscal deficit rate is set at around 4%, with new government debt totaling 11.86 trillion yuan, significantly higher than previous years, to enhance counter-cyclical adjustments [1][2] - The government aims to boost consumption by allocating 300 billion yuan for a trade-in program, expected to generate over 2.6 trillion yuan in related sales [1] Group 2: Support for Employment and Social Welfare - The central government has allocated 66.74 billion yuan for employment subsidies and increased funding for social insurance and public health services, enhancing residents' consumption capacity [1][3] - The government is committed to maintaining necessary levels of fiscal deficit and total debt to ensure sustained support for key areas, focusing on boosting consumption and social welfare [3] Group 3: Policies to Encourage Private Investment - New policies include a loan interest subsidy for small and micro enterprises in key industries, with a subsidy rate of 1.5% for loans up to 50 million yuan [4] - A special guarantee plan for private enterprises will provide support for medium to long-term loans needed for business expansion and upgrades, with a maximum guarantee of 20 million yuan per enterprise [4] - A risk-sharing mechanism for private enterprise bonds will help reduce financing barriers, supported by central government funds [4][8] Group 4: Optimizing Consumption Support Policies - The consumer loan interest subsidy policy has been enhanced, allowing for higher subsidy amounts and broader coverage, including credit card installment payments and new consumption sectors [7] - The implementation period for these consumer loan subsidies has been extended to the end of 2026, increasing accessibility for a wider range of financial institutions [7] Group 5: Government Procurement and Market Regulation - The government aims to optimize procurement processes by establishing a comprehensive legal framework and ensuring fair treatment of all market participants [9] - Continuous efforts will be made to regulate fiscal subsidies and improve the management of government procurement to foster a more competitive market environment [9]

Group 1 - The Ministry of Finance and other departments have released five policy documents aimed at optimizing financial support for personal consumption loans, equipment updates, private investment guarantees, service industry loans, and small and micro enterprise loans [1][9][29] - The personal consumption loan subsidy policy has been extended until December 31, 2026, with adjustments to the subsidy standards and an expanded range of supported financial institutions [4][5][6] - The equipment update loan subsidy policy includes a 1.5% subsidy on fixed asset loans for equipment updates, applicable for up to two years, and has been expanded to include various sectors such as construction, aviation, and digital technology [10][11][12] Group 2 - The private investment guarantee plan has a total quota of 500 billion yuan, to be implemented over two years, focusing on supporting small and micro enterprises in various sectors including technology upgrades and service industry enhancements [17][18] - The plan includes a risk-sharing mechanism where banks will bear at least 20% of the loan risk, while the government guarantee fund will cover up to 80% [19] - The government will also reduce guarantee fees and increase the compensation limit for the guarantee fund to enhance support for private investments [20] Group 3 - The service industry loan subsidy policy has been extended to December 31, 2026, with an increased subsidy cap of 10 million yuan per loan and a 1% annual subsidy rate [23][24] - The policy now includes additional sectors such as digital, green, and retail industries, expanding the scope of financial support [24][25] - The implementation of these policies will involve streamlined processes for fund allocation and enhanced collaboration among financial institutions and regulatory bodies [26][28]

Core Insights - The Chinese government is implementing a series of fiscal policies aimed at boosting domestic demand and promoting high-quality economic development, with a focus on six new policies, particularly two interest subsidy policies for the service sector and personal consumption loans [2][4]. Group 1: Policy Duration and Implementation - The personal consumption loan interest subsidy policy will be uniformly executed by Agricultural Bank of China, Bank of China, and Postal Savings Bank from September 1, 2025, to December 31, 2026 [5]. - The service sector loan interest subsidy policy, currently announced by Agricultural Bank of China, will also extend to December 31, 2026, with existing loans issued between March 16, 2025, and December 31, 2025, continuing under previous regulations [5]. Group 2: Optimized Subsidy Scope - The new policy includes credit card bill installment payments as part of the subsidy scope, effective from January 1, 2026, to December 31, 2026, with a subsidy rate of 1% per annum, capped at 50% of the agreed annualized interest rate [6]. - Adjustments in personal consumption loan subsidies include the removal of a 500 yuan cap on single transaction subsidies, elimination of a 1,000 yuan cap for cumulative transactions under 50,000 yuan, while maintaining a 3,000 yuan annual cap for all personal consumption loans [7]. - The service sector loan subsidy now includes three new categories: digital, green, and retail consumption, and increases the maximum subsidy per loan from 1 million yuan to 10 million yuan, significantly reducing financing costs for large loans [7]. Group 3: Important Considerations - Fraudulent activities to obtain funds will be legally addressed, with banks retaining the right to recover subsidies if fraudulent behavior is detected [8]. - Banks will not charge any fees for processing loans or subsidies and will not engage third parties for these services, emphasizing the prohibition of fraudulent practices [9]. - Overdue loans will not qualify for interest subsidies, and borrowers must settle all outstanding debts before being eligible for subsidies [9].

Core Viewpoint - The Chinese government is implementing a series of fiscal policies aimed at boosting domestic demand and promoting high-quality economic development, with a focus on optimizing interest subsidy policies for the service industry and personal consumption loans [1][3]. Group 1: Policy Implementation - The personal consumption loan interest subsidy policy will be uniformly executed by Agricultural Bank, Bank of China, and Postal Savings Bank from September 1, 2025, to December 31, 2026 [4]. - The service industry loan interest subsidy policy, currently announced by Agricultural Bank, will also extend to December 31, 2026, with existing loans issued between March 16, 2025, and December 31, 2025, continuing under previous regulations [4]. Group 2: Subsidy Scope Optimization - Credit card bill installment payments have been added to the subsidy scope, with the subsidy applicable for new transactions from January 1, 2026, to December 31, 2026, subject to bank verification [5]. - The personal consumption loan subsidy standards have been adjusted by removing the previous limits on single transaction amounts and cumulative amounts for smaller loans, while maintaining an annual cap of 3,000 yuan for all personal consumption loans [6]. - The service industry loan subsidy has expanded to include three new sectors: digital, green, and retail, with the maximum subsidy amount for new loans increased from 1 million yuan to 10 million yuan [6]. Group 3: Important Considerations - Fraudulent activities to obtain subsidies will be strictly penalized, with banks retaining the right to recover subsidies if fraud is detected [7]. - No fees will be charged for processing loans or subsidies, and banks will not engage third parties for these services [7]. - Overdue loans will not qualify for interest subsidies, and borrowers must return all outstanding principal and interest before becoming eligible [7]. Group 4: Inquiry Channels - Customers can check subsidy details through bank SMS, mobile banking apps, physical branches, or customer service hotlines [8].

Core Viewpoint - The article discusses the recent upgrades to multiple loan interest subsidy policies aimed at stimulating consumer spending and supporting small and micro enterprises, indicating a shift in government strategy from large-scale infrastructure investment to more targeted financial support [1][3]. Summary by Sections Personal Consumption Loan Subsidy Policy - The optimization of the personal consumption loan subsidy policy includes extending the policy period to the end of 2026, incorporating credit card installment payments into the subsidy scope, and increasing the annual subsidy rate to 1% [3][4]. - The previous limits on subsidy amounts have been removed, allowing for a cumulative annual subsidy cap of 3,000 yuan per borrower at a single institution [3]. Service Industry Loan Subsidy Policy - The subsidy cap for individual service industry loans has been raised from 1 million yuan to 10 million yuan, with new support areas including digital, green, and retail sectors [7][9]. - The expansion of eligible banks for these subsidies now includes city commercial banks and foreign banks with a regulatory rating of 3A or above [8]. Equipment Update Loan Subsidy Policy - The subsidy rate for equipment update loans has been increased to 1.5%, with a focus on high-end, intelligent, green, and digital equipment updates [10][11]. - The policy now includes a wider range of sectors such as construction, aviation, and artificial intelligence, with a streamlined subsidy process [11]. New Subsidy Policy for Small and Micro Enterprises - A new subsidy policy for small and micro enterprises has been introduced, targeting key industry chains and their upstream and downstream sectors, with a subsidy rate of 1.5% for eligible loans [13][14]. - The policy aims to support various sectors including new energy vehicles, medical equipment, and agricultural machinery, with a loan cap of 50 million yuan per borrower [14].

Group 1 - The core point of the news is the extension of the personal consumption loan interest subsidy policy until the end of 2026, aimed at boosting consumer spending and reducing the cost of personal consumption credit [1][4] - The policy will now be effective from September 1, 2025, to December 31, 2026, allowing residents to enjoy interest subsidies on eligible consumption during this period [4][5] - The subsidy rate for credit card installment payments has been set at 1 percentage point [5] Group 2 - The policy has removed the previous cap of 500 yuan on single transaction interest subsidies and the cumulative cap of 1,000 yuan for each borrower at one financial institution [6] - The policy will include more financial institutions, expanding the coverage to include city commercial banks, rural cooperative financial institutions, foreign banks, and consumer finance companies [6][7] - The central and provincial finances will bear 90% and 10% of the subsidy funds, respectively [6] Group 3 - The funding allocation will follow a "pre-allocation + settlement" method, with financial institutions required to submit their subsidy fund needs by January 31, 2026 [6][7] - The Ministry of Finance will conduct joint inspections to ensure compliance with the policy and will hold institutions accountable for any violations [7][8] - Financial institutions must report their policy execution status monthly, including loan issuance and subsidy amounts [7][8]