In a notice on fiscal-financial coordination to boost domestic demand, China’s
Ministry of Finance said newly originated credit-card installment products —
special-purpose installments, consumer installments and cash-advance
installments — will be eligible for the personal consumer loan fiscal
interest-subsidy program with a subsidy of 1 percentage point annualized. The
notice also said newly issued working-capital loans to eligible small, micro and
private enterprises will be covered by the SME loan interest-subsidy scheme;
central fiscal authorities will subsidize interest at 1 percentage point
annualized on principal for up to two years.