Industrial Policy & Trade Monitor· 2674 actions· ✨ 91 recent

China's Ministry of Finance, NDRC, People's Bank of China and National Financial Regulatory Administration jointly issued Cai Jin [2026] No. 2 on 2026-01-19, optimizing the central-fiscal interest-subsidy policy for equipment-renewal loans. The central government subsidizes 1.5 percentage points of loan principal interest on qualifying fixed-asset loans for equipment-renewal projects, capped at two years, and widens eligible sectors beyond traditional industrial/energy/transport/logistics categories to include construction, AI equipment, aerospace materials, agricultural facilities, cold-chain infrastructure and elderly-care equipment. It also folds bank-originated science-and-technology-innovation loans issued from 2026 (previously supported only via PBOC relending) into the fiscal interest-subsidy scope, and simplifies disbursement via a "pre-disbursement + settlement" mechanism across 26 participating banks. The policy runs through 2026-12-31, extendable.

China's Ministry of Finance, Ministry of Commerce, People's Bank of China and National Financial Regulatory Administration jointly issued Cai Jin [2026] No. 5 on 2026-01-19, optimizing the service-sector loan interest-subsidy policy first launched in August 2025 (Cai Jin [2025] No. 81). The notice extends the scheme through 2026-12-31, raises the per-entity eligible new-loan cap for 2026 to RMB 10 million (subsidy period capped at one year, annual subsidy rate of 1 percentage point, funded 90% by central and 10% by provincial finances), and widens covered sectors from the original eight (catering/accommodation, health, eldercare, childcare, domestic services, culture/entertainment, tourism, sports) to add digital, green and retail categories. It also expands the roster of handling banks to a longer list of state and joint-stock commercial banks.

The Chongqing Municipal Government General Office issued Notice 渝府办发〔2025〕58号 on 2025-11-22, promulgating "Several Policy Measures to Promote High-Quality Development of the Low-Altitude Economy," effective immediately through 2027-12-31. The package comprises eight capped-percentage subsidy tracks covering low-altitude public-service procurement, logistics route operating subsidies (up to RMB 150,000 per route), demonstration projects (up to RMB 20 million), test-flight infrastructure (20% of investment, capped at RMB 5 million), manufacturing R&D and first-of-kind equipment support (up to 30% of receipts, capped at RMB 5 million), national innovation/manufacturing centres (up to RMB 20 million), ground-station infrastructure (20% of investment, capped at RMB 10 million), private-equity fund-manager incentives (1% of invested capital, capped at RMB 10 million cumulative), and AI-compute subsidies (20% of service cost, up to RMB 1 million/year). Global Trade Alert classifies all eight interventions as state aid with a "certainly harmful" (Red) rating.

Five Tianhe District (Guangzhou) government bureaus jointly issued Notice 穗天发改规字〔2025〕3号 on 2025-10-16, promulgating "Several Policy Measures to Accelerate High-Quality Development of the Low-Altitude Economy and Aerospace in Tianhe District," effective 30 days after publication (2025-11-19) through 2027-12-31. The package caps district-scale subsidy tracks covering industrial-park and professional-building recognition (up to RMB 1 million per operator), core-technology R&D grants (up to RMB 1 million/year, scaled by enterprise revenue band), airworthiness-certification support (up to RMB 2 million per enterprise/year), low-altitude logistics and eVTOL route operating subsidies (up to RMB 3 million annual pools each), talent incentives (RMB 100,000/person/year, capped at a RMB 10 million pool), vocational training, and insurance support. Global Trade Alert classifies the measure as state aid with a "certainly harmful" (Red) rating.

On 28 July 2025 the General Office of the Shanghai Municipal People's Government issued Hufubangui [2025] No. 6, the "Shanghai Embodied Intelligence Industry Development Implementation Plan" (上海市具身智能产业发展实施方案), a dedicated municipal state-aid package to build Shanghai into a global innovation hub for embodied intelligence (humanoid robotics / physical AI). The plan targets an industry scale of CNY 500 billion by 2027, alongside at least 20 core algorithm/technology breakthroughs, four or more high-quality incubators, and "100-100-100" targets for leading enterprises, applications and products. Support is disbursed as tiered direct subsidies capped at CNY 50 million (30% of project cost) for core-technology R&D, CNY 40 million per company per year for computing-power credits, CNY 20 million (50% of cost) for public-platform construction, CNY 10 million (20% of cost) for application-demonstration projects, CNY 5 million per company per year for language-corpus services, CNY 5 million (5% of contract value) for robot sales/rental incentives, CNY 5 million per open-source project, and CNY 1 million per leading enterprise for standards development. Target application sectors are logistics, industrial manufacturing, retail, healthcare/eldercare and domestic services.

Jiangsu's provincial Development and Reform Commission and Department of Finance jointly issued a notice on 2025-01-22 expanding the province's 2025 equipment-renewal and consumer trade-in support package under the national "ultra-long-term special treasury bond" program. For qualifying enterprise equipment-renewal bank loans — including transportation, logistics, energy, industrial and agricultural-machinery equipment — Jiangsu's provincial finance department layers an additional 1 percentage point of loan-interest subsidy on top of the 1.5-point central-fiscal subsidy already provided nationally, with a financing-guarantee subsidy covering 80% of guarantee fees (capped at 3 years) for small and micro enterprises accessing renewal loans through the province's "Equipment Guarantee" (设备担) scheme.