China extends interest subsidies, introduces new loan incentives to boost demand
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China will extend interest subsidies for consumers, service businesses and those in need of equipment upgrades to revive softening domestic demand, the country's finance ministry said on Tuesday.
The subsidies will be extended to the end of 2026 and the ministry will also roll out interest subsidies for up to two years for loans extended to small and micro-sized private firms from this year, according to statements on its website.
It also introduced a guarantee plan totalling 500 billion yuan ($71.83 billion) over two years for private investment. ($1 = 6.9605 Chinese yuan renminbi)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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