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CN Govt Work Report Proposes RMB250B Ultra-Long-Term Special Govt Bonds to Support Consumer Goods Trade-Ins
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Chinese Premier Li Qiang, on behalf of the State Council, presented the government work report to the Fourth Session of the 14th National People's Congress, according to a report by Xinhua News Agency. The report proposed promoting the expansion and upgrading of commodity consumption by arranging RMB250 billion in ultra-long-term special government bonds to support consumer goods trade-ins and optimizing policy implementation mechanisms. A fiscal and financial coordination fund of RMB100 billion will also be established to promote domestic demand, utilizing methods such as interest subsidies on loans, financing guarantees, and risk compensation to shore up the expansion of domestic demand. AAStocks Financial News |
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