China extends interest subsidy on loans for equipment upgrades until December 2024.

China's Ministry of Finance has extended its interest subsidy policy for bank loans aimed at equipment upgrades. Initially announced in June 2024, the policy offers eligible businesses a one percentage point interest reduction on loans taken between March 7, 2024, and December 31, 2024, for up to two years. The policy supports domestic demand and promotes high-quality development by providing low-cost funding through a 500 billion yuan relending facility established by the People's Bank of China.

2 months ago
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