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, Sept. 30 (Xinhua) — China's National Development and Reform Commission (NDRC) announced Tuesday that it has jointly issued the fourth and final tranche of special ultra-long government bonds in 2025 to support the consumer goods trade-in program.
The current tranche of 69 billion yuan (about 9.7 billion US dollars) has fully completed the distribution of 300 billion yuan of central government funds for the implementation of the trade-in program this year.
The bond issue is part of a broader effort to stimulate domestic demand through large-scale upgrades of industrial equipment and the exchange of old consumer goods such as household appliances and vehicles for new ones.
Between January and August, nearly 330 million consumers in China applied for trade-in subsidies, generating more than 2 trillion yuan in trade-in sales.
The State Committee for Reconstruction and Development noted that in the future, the agency will continue to strive for a balanced and orderly distribution of subsidies, strictly suppress fraudulent activities and illegal profit-making associated with subsidies, and promote the effective use of each allocated subsidy.
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