China invests 300 billion yuan in economy boost through ultra-long treasury bonds, offering rebates on appliances and subsidies for new energy cars.
China is investing 300 billion yuan ($41.4 billion) to boost the economy through ultra-long treasury bonds, primarily for equipment upgrades and consumer goods trade-ins, including a 20% rebate on home appliances and subsidies for new energy car buyers. The National Development and Reform Commission and finance ministry plan to disburse the entire amount by August, as retail sales growth dropped to just 2.0% in June.
July 25, 2024
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