Ministry of Finance: This year, two consumer interest subsidy policies will be optimized from four aspects.

Today, the State Council Information Office held a press conference, where officials from the Ministry of Finance introduced the situation regarding the implementation of proactive fiscal policies to promote high-quality economic and social development. During the press conference, a reporter asked how the personal consumption loan interest subsidy and service industry operator loan interest subsidy policies will be further optimized this year to better respond to society's expectations. Vice Minister of Finance Liao Min introduced that boosting consumption is an important aspect of improving people's livelihoods and a lasting driving force for economic growth. Last August, the Ministry introduced two policies - the service industry operator loan interest subsidy and personal consumption loan interest subsidy. These policies targeted both supply and demand sides, allowing businesses and residents to enjoy a 1% interest subsidy on loans. Many restaurants, small shops, and households received tangible support. In response to society's expectations, these two consumption interest subsidy policies have been optimized in four areas to make the policies more thirst-quenching, convenient, and sustainable: First, the subsidy intensity has been increased. For individual consumers, the maximum subsidy for a single consumption has been raised, from 500 yuan to 3000 yuan. This aims to better meet the major consumption needs of ordinary people and boost purchasing power. For businesses in the consumer service industry, the maximum loan amount eligible for an interest subsidy has been raised significantly from 1 million yuan to 10 million yuan, with the subsidy amount increasing from 10,000 yuan to 100,000 yuan, providing more substantial support to businesses in need of funds. Second, the coverage of consumption has been expanded. Regarding personal consumption, considering the consumption habits of ordinary people, the installment payment business for credit card bills, which is widely used, has been included in the subsidy scope. The restriction on a single consumption above 50,000 yuan has been removed, allowing all consumption loans to enjoy the interest subsidy. In terms of service consumption, in addition to the existing eight categories such as catering, accommodation, health, elderly care, childcare, housekeeping, culture and entertainment, tourism, and sports, three key areas including digital, green, and retail have been added. Activities such as using loans and credit card installments in the consumption activities of digital transformation physical stores, environmental protection and energy-saving service providers, and retail stores can now benefit from the subsidy. Third, the implementation period has been extended. The implementation period for the two consumption loan interest subsidy policies has been extended to the end of 2026, providing businesses and individuals with enough time to make decisions and apply for loans. Fourth, the coverage of institutions has been expanded. The number of national institutions handling the policies has been increased from over 20 to more than 500, supporting both traditional and new consumption scenes and formats. This expansion aims to cover urban and rural areas comprehensively, integrate online and offline channels, and ensure that the policies benefit a wider range of operators and people. It is hoped that these institutions will promote the policies to their clients and serve their related credit needs well.