中文：

终端补贴是指政府或企业为了推广特定产品或服务，在产品的生命周期内，为最终用户提供的直接经济补贴。这种补贴旨在降低消费者购买和使用成本，促进消费和增加市场份额。

终端补贴通常应用于那些需要大量资金投入的产品或服务，如新能源汽车、大型家电等。政府或企业通过给予终端补贴，可以刺激消费者购买，提高产品的市场占有率，同时也可以促进相关产业的发展。

终端补贴的形式多种多样，包括现金补贴、购物券、折扣等。例如，对于购买新能源汽车的消费者，政府可能会给予一定的现金补贴或减免车辆购置税；对于购买智能电视的消费者，厂商可能会提供一定的购物券或折扣。

终端补贴虽然可以刺激消费和增加市场份额，但也存在一些问题和挑战。首先，补贴可能会导致市场价格扭曲，使得产品或服务的真实价值难以反映。其次，补贴可能会导致市场需求的提前释放，使得产品或服务的生命周期缩短。此外，补贴还可能会引发一些道德风险和套利行为。

英文：

Terminal subsidy refers to the direct economic subsidy provided by the government or enterprise to the end user during the product's lifecycle for the purpose of promoting specific products or services. This subsidy aims to reduce consumers' purchase and usage costs, promote consumption and increase market share.

Terminal subsidy is usually applied to products or services that require significant capital investment, such as new energy vehicles, large household appliances, etc. By providing terminal subsidies, the government or enterprise can stimulate consumer purchases, increase market share, and promote the development of related industries.

Terminal subsidies come in various forms, including cash subsidies, shopping vouchers, discounts, etc. For example, the government may provide consumers who purchase new energy vehicles with a certain amount of cash subsidies or vehicle purchase tax reduction and exemption; for consumers who purchase smart TVs, manufacturers may provide certain shopping vouchers or discounts.

Although terminal subsidies can stimulate consumption and increase market share, there are also some problems and challenges. Firstly, subsidies may lead to market price distortion, making it difficult to reflect the true value of the product or service. Secondly, subsidies may lead to the early release of market demand, shortening the product or service lifecycle. In addition, subsidies may also cause some moral risks and arbitrage behavior.