Buying smart glasses entitles you to national subsidies; railway tourism tickets are selling briskly in Northeast China; the value-added tax rate on homes purchased less than two years ago has been reduced… 2026 marks the start of the 15th Five-Year Plan. At the beginning of the new year, a series of policies and measures have been implemented, optimized, and upgraded to address the urgent needs and concerns of the people and enhance the driving force and vitality for high-quality development.
Consumption: National subsidies are reinstated, and the new Hainan offshore duty-free policy is even more effective.
"Buying new home appliances for the New Year is energy-saving and offers great discounts." During the New Year's Day holiday, Li Yang, a resident of Jinan, Shandong, ordered an 85-inch color TV with a first-class energy efficiency rating. The original price was nearly 8,000 yuan, but he only had to pay more than 6,600 yuan for it.
On January 1st, a new round of national subsidies was launched, leading to a continuous rise in market consumption.
Looking at the scope of subsidies, in addition to mobile phones, tablets, smartwatches and smart bands, smart glasses have been added; home appliances include six categories: refrigerators, washing machines, televisions, air conditioners, computers and water heaters, but only products with Level 1 energy efficiency or water efficiency standards are subsidized; subsidies are still available for scrapping and replacing vehicles.
Looking at the subsidy standards, digital and home appliance products will continue to enjoy a 15% subsidy rate, with a maximum subsidy of 500 yuan per digital product and a maximum subsidy of 1,500 yuan per home appliance product; the subsidy for automobile replacement will be adjusted to a percentage of the price, with a maximum subsidy of 20,000 yuan.
Another major change in the consumer market comes from the adjustment of Hainan's offshore duty-free policy: the number of duty-free goods has increased from 45 to 47, and the beneficiaries have been expanded to include departing passengers; Hainan residents with a departure record within a calendar year can purchase 15 categories of "buy and pick up immediately" goods an unlimited number of times within that calendar year.
Benefiting from favorable policies and the New Year's Day holiday, Hainan's offshore duty-free market enjoyed a strong start. According to statistics from Haikou Customs, from January 1st to 6th, the total value of offshore duty-free shopping in Hainan reached 1.1 billion yuan, an increase of 90.6% year-on-year; the number of shoppers reached 133,000, an increase of 40% year-on-year; and the number of items purchased reached 733,000, an increase of 31.8% year-on-year.
Services: Efforts from both the supply and demand sides make support measures more heartwarming.
One ticket meets diverse tourist needs—recently, many travelers have discovered the launch of a 15-day multi-trip railway ticket for Northeast China. This high-speed rail ticket covers 14 stations, can be purchased in segments, and is valid for 15 days, allowing unlimited travel to popular winter tourism destinations such as Changbai Mountain and Harbin.
Starting November 27, 2025, the railway department will launch 25 new versions of multi-trip tourist tickets at 212 stations. Passengers can freely choose 2-10 segments of their journey within the designated departure and arrival stations, and can board the train by pre-booking seats or directly swiping their ID cards, making "traveling by train" more convenient and faster.
Two new regulations reflect green transformation and development: On January 4, the State Administration for Market Regulation, together with relevant departments, released the "Administrative Measures for Green Product Certification and Labeling," which for the first time systematically and comprehensively standardized green product certification activities. On January 5, nine departments, including the Ministry of Commerce, issued a document to implement a green consumption promotion action, with 20 measures in seven aspects covering various fields such as food, clothing, housing, transportation, daily necessities, and tourism.
In the future, green consumption will become more convenient and widespread, from green agricultural products, green catering, and green hotels to green home furnishings and green cars, thereby driving all industries to accelerate their green and low-carbon transformation.
A gift package brimming with heartwarming assistance—"This is a special New Year's gift." Mr. Yao, a villager from Shuiquanbao Village in Wanquan District, Zhangjiakou, Hebei Province, who has suffered from uremia for many years, received a "Warmth and Compassion Package" from the Red Cross Society of China in the new year. Unlike the rice, flour, and oil distributed in previous years, this year's package innovatively uses electronic vouchers, allowing recipients to choose from 30 different options to truly meet their specific needs.
The China Meteorological Administration is implementing the "observation as a service" concept, strengthening the linkage between meteorological early warning, disaster forecasting, and emergency response; the National Forestry and Grassland Administration has introduced several measures to promote the development of the under-forest economy, strengthening "one-on-one, point-to-point" scientific and technological services for under-forest economic projects; the State Administration for Market Regulation has organized the "You Order, We Inspect" activity, conducting spot checks on popular products such as meat, eggs, dairy products, seasonal pastries, fresh fruits and vegetables, and gift sets that are of concern to the public... At the beginning of the new year, a series of policies and measures are focusing on all aspects of economic and social development, turning grand visions into beautiful realities through practical work.
Childbirth: Childcare subsidies will be available for application starting in 2026, benefiting millions of families.
"3,600 yuan a year, this is a government bonus for children," said Ms. Zhang, a resident of Chaoyang District, Beijing, excitedly.
On January 5th, applications for the 2026 childcare subsidy began, and can be processed online or offline. Online channels include childcare subsidy mini-programs on platforms such as Alipay and WeChat, as well as the childcare subsidy application section on the government service platform of the province where the infant's household registration is located; offline applications can be made at the township or street office where the infant's household registration is located.
According to reports, the online application now includes a renewal function. Infants and young children who applied for childcare subsidies in 2025 and meet the conditions for continuing to apply in the new year can apply for renewal.
Data shows that all 31 provinces, autonomous regions and municipalities have issued childcare subsidies for 2025, with a cumulative total of over 24 million people receiving subsidies, representing a distribution rate of approximately 80%.
In 2026, new support policies for childbirth will be introduced: 10,000 medical institutions nationwide will provide early pregnancy care clinics to strengthen early pregnancy counseling and guidance; 150,000 new affordable childcare places will be added nationwide to reduce the burden of childcare on families… “We will further optimize childbirth support policies and incentive measures, promote positive views on marriage and childbearing, coordinate the development of affordable childcare and integrated childcare services, optimize maternal and child services, and strive to stabilize the size of the newborn population,” said a relevant official from the National Health Commission.
Home purchase: The value-added tax rate is reduced to 3% for individuals selling homes purchased less than 2 years ago.
At 2 p.m. on January 7, all of the more than 100 waiting seats in the transaction registration hall of the Huaqiao Road branch of the Nanjing Real Estate Market Transaction Center in Jiangsu Province were filled.
"The good policy saved me more than 80,000 yuan!" Zhang Jian, a resident of Gulou District in Nanjing, came to handle the property transfer. His family planned to replace their house. The current house was purchased less than 2 years ago, and the tax and fees for the house with a total price of more than 4 million yuan were as high as 210,000 yuan. The buyer and seller had not been able to reach an agreement.
A few days ago, Zhang Jian saw the news: the Ministry of Finance and the State Administration of Taxation issued an announcement that, starting January 1, the value-added tax rate for individuals selling homes purchased less than two years ago would be reduced from 5% to 3%. "Under the new policy, I only need to pay a little over 120,000 yuan in taxes, which saves me a lot of money," Zhang Jian said. With the transaction costs reduced, the deal was quickly agreed upon.
"From January 4th to 7th, a total of 284 second-hand housing transactions were processed, with a significant year-on-year increase in the number of transactions involving properties less than two years old," said Chen Jiamin, head of the Huaqiao Road branch.
"This adjustment to the value-added tax policy for individual housing sales is an important measure to stabilize the real estate market," said Li Xuhong, vice president of the Beijing National Accounting Institute. From a macro perspective, this adjustment not only reduces housing transaction costs and stimulates liquidity in the existing housing market, promoting the release of demand for improved housing through "selling old and buying new," but also creates a fair market environment by unifying policy standards, thus helping the primary and secondary housing markets to achieve a virtuous cycle.
Credit reporting: The one-time credit repair policy has been implemented, demonstrating both strength and compassion.
Just after the New Year, many people on social media platforms shared their credit reports: a user in Guangdong shared that their credit report had been "updated," with the number of accounts with overdue records changing from 2 to 0; a user in Henan posted after checking, "I'm among the first batch of people to have their credit reports updated."
On December 22, 2025, the People's Bank of China announced a one-time credit repair policy. For personal overdue information with a single amount not exceeding RMB 10,000 from January 1, 2020 to December 31, 2025, if the individual repays the overdue debt in full before March 31, 2026 (inclusive), the central bank's credit reporting system will not display it.
On January 1, 2026, the one-time credit repair policy was smoothly implemented. The Credit Reference Center of the People's Bank of China promptly adjusted and processed overdue information that met the policy conditions to ensure the policy's implementation. Through arrangements such as "no application required," a three-month grace period, and two additional free inquiry opportunities in the first half of 2026, eligible individuals were able to apply the policy fairly, justly, and easily.
"The one-time credit repair policy is both forceful and humane, reflecting the professionalism and precision of credit management." Dong Ximiao, deputy director of the Shanghai Financial and Development Laboratory and chief researcher of Zhaolian, believes that while maintaining the rigid constraints of the credit system, the policy adds flexibility with humanistic care, marking that my country's social credit management is shifting from "punishment-oriented" to "equal emphasis on punishment and repair".
Starting a business: The implementation of the Value Added Tax Law stimulates the vitality of business entities.
Starting January 1, the Value-Added Tax Law of the People's Republic of China officially came into effect, and the supporting regulations, the Implementing Regulations of the Value-Added Tax Law of the People's Republic of China, came into effect simultaneously.
"The implementation of the Value-Added Tax Law and its implementing regulations has made the value-added tax policy more certain, and enterprises have a clearer legal basis for compliance management," said the person in charge of Chongqing Zongshen General Power Machinery Co., Ltd. The value-added tax law clarifies the scope of "sales revenue" through positive enumeration, making the company's direction clearer and more standardized when dealing with daily tax matters.
As my country's largest tax, the value-added tax (VAT) has undergone a series of major reforms since the 1994 tax system reform, including the replacement of business tax with VAT, the simplification of tax rates, and the refund of input VAT credits. "VAT legislation has very important practical significance; it not only establishes the legal authority of VAT but also helps to protect the legitimate rights and interests of taxpayers," said Li Xuhong.
To stimulate the vitality of various business entities, a series of measures have been introduced: four departments issued guiding opinions to promote the expansion and strengthening of government-backed financing guarantees and reduce the overall financing costs for entrepreneurial groups; the Ministry of Natural Resources dispatched working groups to provide on-site services, innovated the "fast track" mechanism for land use approval, and streamlined the review process... Multiple measures have been taken to help enterprises get started in the new year with renewed vigor, and better plan for innovation, expand markets, and promote development.
(Reporters: Li Xinping, Bai Jianfeng, Qu Zhehan, Gu Zhongyang, Ouyang Jie, Wu Qiuyu, Li Hongmei, Lin Lili, Wang Ke, Yao Xueqing, Wang Guan, Chang Qin, Shen Shaotie)
