Overview

• From September 1 to the end of next August, individuals can claim a one-percentage-point interest subsidy on single consumer loans up to ¥50,000 with higher allowances for key purchases such as cars and education.
• The business scheme offers a one-percentage-point interest cut on loans to firms in eight consumer service areas, including catering and tourism, for contracts signed between March 16 and December 31 with a roughly ¥1 million per-entity limit.
• Under the fiscal design central authorities cover 90 percent of subsidy costs and provinces bear the remaining 10 percent, with major state banks and online platforms like WeBank implementing the programmes.
• Authorities present the schemes as pilot policies subject to evaluation for potential extension or expansion beyond the initial one-year term.
• These new subsidies build on earlier measures such as a ¥500 billion re-lending facility for elderly care and special treasury bonds for a consumer trade-in programme under Beijing’s 30-point consumption plan.