2500 billion yuan to support the old-for-new consumer goods trade-in program; the Ministry of Finance will strengthen inclusive policies that directly benefit consumers

LightningPacketLoss · 2026-03-25T06:09:47+00:00

At the China Development Forum, Finance Minister Lan Fuan announced that the government will stimulate consumption and investment through deficit spending and special-purpose bonds to support economic growth. He emphasized the need to boost consumption by implementing trade-in policies for old goods, while optimizing investment structure, strengthening support for private enterprises, promoting increases in residents' income, and improving social security systems.

LightningPacketLoss

2026-03-25 06:09:47

Abstract generation in progress

At the China Development High-Level Forum 2026 Annual Meeting held today (22nd), Minister of Finance Lan Fuan stated that in response to the prominent contradiction of strong supply and weak demand in current economic operation, a comprehensive use of policy tools such as deficit, special bonds, and loan interest subsidies will be employed to build a strong domestic market.

Lan Fuan said that efforts will be made to boost consumption more vigorously, increase inclusive policies directly reaching consumers, and this year, over 250 billion yuan of ultra-long-term special national bonds will be allocated to support the replacement of old consumer goods. A 100 billion yuan fiscal and financial coordination special fund will be established to promote domestic demand, along with more real financial support to stimulate consumption. Additionally, efforts will be made to enhance long-term consumption capacity, strengthen employment support, improve the social security system, and reinforce the regulatory roles of taxation and transfer payments to increase residents’ income through multiple channels.

Regarding expanding effective investment, the government will optimize the investment structure, make good use of ultra-long-term special national bonds, local government special bonds, and central budgetary investments, focusing more on key areas such as new quality productivity and new urbanization. Investments will be directed more toward strategically significant sectors that help improve total factor productivity, and major engineering projects outlined in the 14th Five-Year Plan will be strongly supported.

Minister of Finance Lan Fuan: We will improve fiscal and tax support policies to help private enterprises share risks and reduce financing costs, thereby motivating private investment. This year, dedicated funds will be allocated to enhance credit for private bond issuance; a private investment guarantee plan will be established; and policies for interest subsidies on loans to small and micro enterprises will be implemented to guide more financial resources toward business entities and the real economy.

(Reporter: Liu Ying, Ding Yani)

(Source: CCTV News Client)

(Edited by: Bi Fengzhi)

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