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China offers interest subsidies for loans to boost consumption
The program subsidizes one percentage point on consumer and business loans to unlock spending potential and stabilize employment amid economic challenges, officials said.
- China launched a year-long plan to offer interest subsidies for personal consumer loans to boost household spending and domestic demand.
- Individuals who take out consumer loans for purchases will have part of their interest costs covered by the government, with the central government covering 90% of the subsidy cost.
- The plan aims to lower the cost of consumer credit for households, unlock their spending potential, and support the consumer market and service industry operators.
20 Articles
20 Articles
China to Offer Subsidized Personal Loans to Get People to Spend More
Only two weeks after the Politburo signaled it would make no further efforts to stimulate weak consumer demand, the national government announced it would offer subsidized personal loans to prod consumers into spending more money. The post China to Offer Subsidized Personal Loans to Get People to Spend More appeared first on Breitbart.
Interest subsidies show China's commitment to boosting consumption: China's finance ministry
China on Tuesday unveiled interest subsidy policies for personal consumption loans and loans to service-sector businesses, aiming to stimulate more financial resources to flow into consumer markets, unlock consumption potential and enhance market vitality.
China Pledges More Financial Support for Consumption With Loan Interest Subsidy
China plans to boost domestic consumption by offering interest subsidies on loans to households and businesses, aiming to reduce borrowing costs and spur spending, Vice Finance Minister Liao Min said on Wednesday.
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