Interest Subsidy
Individuals may receive interest subsidies on portions of personal consumption loans, excluding credit card business, issued by lending institutions—provided the funds are actually used for consumption purposes and transactions can be verified through loan disbursement accounts, according to an official announcement on August 12.
The announcement was jointly issued by the Ministry of Finance, the People’s Bank of China, the country’s central bank, and the National Financial Regulatory Administration.
The provisions outlined will be implemented from September 1 this year to August 31, 2026.
Covered expenditures include single transactions under 50,000 yuan ($7,000), as well as priority sector transactions of 50,000 yuan or more involving household automobiles, senior care and childbirth support, education and training, culture and tourism, home furnishings and decoration, electronics, and health and medical services.…