Source: China – South China Morning PostChina has launched a year-long plan to offer interest subsidies for personal consumer loans as part of Beijing’s broader efforts to unlock household spending power and shore up domestic demand.
Individuals who take out consumer loans for purchases – including single transactions below 50,000 yuan (US$6,958) and higher amounts for purchases in key sectors such as cars and education – will have part of their interest costs covered by the government, according to the plan released on Tuesday by the…Read More