Ministry of Finance: As of the end of August this year, the national treasury has allocated a total of about 420 billion yuan, driving the sales of various goods to exceed 2.9 trillion yuan.

Minister of Finance Liao Fuan stated at the State Council Information Office's series of themed press conference on "High-quality completion of the 14th Five-Year Plan" on September 12 that we strongly support the trade-in of old consumer goods for new ones. As of the end of August this year, the national finance has allocated a total of about 420 billion yuan, driving the sales of various goods to exceed 2.9 trillion yuan. Special funds have been arranged to support the county-level commercial construction initiative, guiding the release of rural consumption potential. Since the 14th Five-Year Plan, rural retail sales of consumer goods have increased by 24%. We have introduced direct subsidies such as childcare subsidies and elderly care service subsidies, provided interest subsidies for personal consumption loans in key areas and loans for industry operators, directing resources accurately towards the consumption sector. We are improving the duty-free shop policy system to encourage more domestic "trendy products" to go global. Optimizing the outbound tax refund policy, further lowering the starting point for refunds, increasing the cash refund amount, and promoting the expansion of inbound consumption.