China has announced plans to implement new interest subsidy policies aimed at stimulating consumer spending and reducing financial pressures on individuals and businesses, according to Chinese Minister of Finance Lan Fo’an. The initiative, revealed during a press conference at the third session of the 14th National People’s Congress, targets key sectors critical to boosting economic activity.
The subsidies will apply to personal consumer loans and business loans in industries such as catering, hospitality, healthcare, elderly care, childcare, and domestic services. Lan emphasized that the policies are designed to alleviate financial burdens on households while lowering financing costs for enterprises, fostering a more dynamic market environment.
The move underscores China’s broader strategy to stabilize economic growth through targeted fiscal measures. By incentivizing spending in sectors closely tied to daily life, authorities aim to enhance domestic consumption and sustain post-pandemic recovery momentum.
Analysts suggest the subsidies could accelerate growth in China’s consumer-driven industries, providing fresh opportunities for businesses and investors. The announcement signals confidence in China’s economic resilience amid global uncertainties.
