The loans involved include fixed asset and working capital loans for enhancing business infrastructure and services capabilities.<\/p>\n
Separately on Tuesday, financial regulators said they would offer interest subsidies for individuals who take consumer loans, to reduce borrowing costs and stimulate consumer spending.<\/p>\n
Consumers can receive an interest subsidy of one percentage point on loans for single purchases of no more than 50,000 yuan (US$6,954) for goods including vehicles and electronics, according to a statement released jointly by three financial regulators.<\/p>\n
Eighteen national banks and five online lending platforms, including Tencent’s private lender WeBank and Chongqing Ant Consumer Finance, a unit of China’s Ant Group, are among the lending institutions eligible for the preferential policy, the statement said.<\/p>\n
In May, the central bank rolled out a 500 billion yuan re-lending facility for elderly care and services consumption, in a bid to encourage banks to offer financial support to the accommodation, catering, education and elderly care sectors.<\/p>\n
China has also allocated 231 billion yuan in special treasury bonds for a consumer goods trade-in programme – out of the annual quota of 300 billion yuan – with a focus on home appliances, cellphones, and tablet computers.<\/p>\n","protected":false},"excerpt":{"rendered":"The loans involved include fixed asset and working capital loans for enhancing business infrastructure and services capabilities. Separately…\n","protected":false},"author":2,"featured_media":62831,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,512,6016,164],"class_list":["post-62830","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-china","tag-consumer","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/62830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=62830"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/62830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/62831"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=62830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=62830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=62830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}