Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, July 26 (Xinhua) — China has allocated 69 billion yuan (about 9.66 billion U.S. dollars) in a third batch of ultra-long special Treasury bonds to support the country's trade-in program for consumer goods, the Ministry of Finance said Friday.
The Chinese Ministry of Finance, together with the National Development and Reform Commission (NDRC), plans to allocate a total of 300 billion yuan in such funds to support the trade-in program this year, Finance Ministry spokesman Wu Gai said at a press conference.
The first two installments of the funds, totaling 162 billion yuan, were released in January and April this year, he said. The remaining funds will be released in October to support local governments in promoting the trade-in program, he added.
As of July 16, 280 million people nationwide had applied for subsidies under the consumer goods exchange program, resulting in sales of eligible goods exceeding 1.6 trillion yuan, according to the NCRR.
As a next step, the SCRR plans to optimize subsidy distribution methods, ensure more orderly policy implementation, and strengthen oversight of product quality and pricing. -0-
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