Who really benefits from this national subsidy wave?

Carefully examining the latest consumer subsidy policies, it’s clear they are well-prepared. Digital devices include smartphones, tablets, smart wearables, and AI glasses; household appliances cover major categories like TVs, refrigerators, washing machines, air conditioners, and water heaters. Plus, there’s subsidy support for car scrapping and replacement. At first glance, the policy strength seems significant.

But looking at new energy vehicles, the purchase cost in 2026 will increase by 1.5 million compared to 2025. Where does this gap come from? In 2025, new energy vehicles are fully exempt from purchase tax, with a maximum exemption of 3 million per vehicle. In 2026, the exemption is halved, with a maximum exemption of 1.5 million per vehicle. For consumers without old car trade-ins, this benefit disappears entirely, affecting a large group. To put it plainly, the national subsidy policy is indeed favorable for businesses, but offers limited help to ordinary consumers.

**The truth about the smartphone market is even more painful**

Take smartphones as an example. Last year, when there was a national subsidy, manufacturers didn’t cut prices from the launch of new models to the next generation. When the subsidy came, phone prices actually increased. The logic is straightforward: businesses used the subsidy as an excuse to raise prices. Before the national subsidy, consumers could enjoy over 400 in market discounts when buying a phone. But once the policy took effect, manufacturers directly used official guide prices to claim the subsidy, and that 400 discount was essentially pocketed by the sellers.

Even more ironic, phones priced below 6000 already come with market discounts, so using the national subsidy on these models isn’t necessarily cost-effective. Instead, the models without discounts are where the subsidy truly makes a difference.

**Practical advice for consumer decision-making**

Rather than obsessing over the pros and cons of the subsidy, it’s better to ask yourself if your wallet can handle it. If you’re financially comfortable and want to upgrade your quality of life, consider timely upgrades. But if funds are tight, sticking with your current device isn’t a problem. Most importantly, have a clear understanding of the overall economic recovery in 2026—don’t get blinded by the policy’s halo.

Policy subsidies are ultimately temporary support; the key is to make decisions based on your actual situation.