MOFCOM and six other ministries issued implementation opinions to expand goods
consumption, directing use of personal consumption loan interest subsidies,
service-sector business loan interest subsidies and pilots for new consumption
formats/models/scenes, and calling for fiscal funds to leverage additional
financing. Financial institutions are encouraged, within legal compliance and
risk-control limits, to boost lending for autos, household appliances and
digital products, and smart-home purchases, and to develop diversified consumer
finance products. Authorities support deeper cooperation between financial
institutions and merchants/platforms to co-develop finance products tailored to
consumption sectors. Regulators will improve domestic-trade insurance policy and
expand its scale and coverage.
