The Zhitong Finance App learned that Morgan Stanley released a research report saying that the Chinese government has clarified the scope of support and subsidy standards for the 2026 “two new” policies. Smartphones, tablets, smartwatches, and smart glasses will continue to offer 15% off sales prices, with a maximum subsidy of 500 yuan per item, while refrigerators, washing machines, televisions, air conditioners, computers, and water heaters will receive a maximum subsidy of 1,500 yuan per item. The bank believes that the newly announced policy is a positive catalyst for the technology and hardware industry because the market expects subsidies to decrease rather than remain the same. For consumer electronics products, the 15% subsidy will still benefit Xiaomi Group-W (01810.HK)'s AIoT business next year.

The Zhitong Finance App learned that Morgan Stanley released a research report saying that the Chinese government has clarified the scope of support and subsidy standards for the 2026 “two new” policies. Smartphones, tablets, smartwatches, and smart glasses will continue to offer 15% off sales prices, with a maximum subsidy of 500 yuan per item, while refrigerators, washing machines, televisions, air conditioners, computers, and water heaters will receive a maximum subsidy of 1,500 yuan per item. The bank believes that the newly announced policy is a positive catalyst for the technology and hardware industry because the market expects subsidies to decrease rather than remain the same. For consumer electronics products, the 15% subsidy will still benefit Xiaomi Group-W (01810.HK)'s AIoT business next year.