250 billion yuan to support the trade-in of consumer goods; the Ministry of Finance will strengthen inclusive policies that directly benefit consumers

GateUser-bd883c58 · 2026-03-23T17:25:25+00:00

Finance Minister Lan Foan stated at the forum that the government will allocate 250 billion yuan to support trade-in programs and 85 billion yuan to stimulate domestic demand through deficit and special-purpose bonds measures, while boosting consumption and increasing residents' income. At the same time, the government will optimize the structure of government investment and support the development of private enterprises and small and medium-sized enterprises.

GateUser-bd883c58

2026-03-23 17:25:25

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How will the 250 billion yuan fund for old-for-new vehicle exchanges directly reach consumers?

At the China Development High-Level Forum 2026 held today (22nd), Minister of Finance Lan Fo’an stated that to address the prominent contradiction of strong supply and weak demand in the current economic operation, a comprehensive use of policy tools such as deficit spending, special bonds, and loan interest subsidies will be employed to build a strong domestic market.

Lan Fo’an said that efforts will be made to boost consumption more vigorously, increasing inclusive policies that directly benefit consumers. This year, over 250 billion yuan in ultra-long-term special national bonds will be allocated to support the old-for-new consumer goods exchange, and 100 billion yuan in fiscal and financial coordination funds will be set up to promote domestic demand. More “real money” will be used to stimulate consumption. Additionally, efforts will be made to enhance long-term consumption capacity, strengthen employment support, improve the social security system, and reinforce the regulatory roles of taxes and transfer payments, increasing residents’ income through multiple channels.

Regarding expanding effective investment, the government will optimize investment structure, making good use of ultra-long-term special bonds, local government special bonds, and central budget investments, focusing more on key areas such as new quality productivity and new urbanization. Investments will be directed toward strategic projects that improve total factor productivity, supporting major projects outlined in the “14th Five-Year Plan.”

Lan Fo’an also stated that policies on fiscal and tax support will be improved to help private enterprises share risks and reduce financing costs, thereby motivating private investment. This year, dedicated funds will be allocated to enhance credit for private bond issuance; a private investment guarantee plan will be established; and policies for interest subsidies on loans to small and micro enterprises will be implemented, guiding more financial resources toward business entities and the real economy.

(CCTV Reporter Liu Ying, Ding Yani)

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