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MNI BRIEF: China State Planner To Increase Trade-in Support

MNI (BEIJING)
MNI (Beijing)

China will allocate CNY300 billion ultra-long special treasury bonds towards supporting large-scale equipment renewals and consumer good replacement projects, Zhao Chenxin, Deputy Director at the National Development and Reform Commission said on Thursday.

Speaking to reporters, Zhao said the government would also increase interest rate subsidies for bank loans supporting equipment renewals from 1 percentage point to 1.5pp for a period of 2 years and up to CNY20 billion.

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China will allocate CNY300 billion ultra-long special treasury bonds towards supporting large-scale equipment renewals and consumer good replacement projects, Zhao Chenxin, Deputy Director at the National Development and Reform Commission said on Thursday.

Speaking to reporters, Zhao said the government would also increase interest rate subsidies for bank loans supporting equipment renewals from 1 percentage point to 1.5pp for a period of 2 years and up to CNY20 billion.

Keep reading...Show less