China's Finance Ministry Allocates Special Bonds to Boost Consumer Spending

On April 24, Wu Gai, Deputy Director of the Economic Construction Department at China's Ministry of Finance, announced during a press conference that the ministry has allocated a total of 125 billion yuan in ultra-long-term special bonds in two batches. According to Jin10, these funds are aimed at supporting consumers in purchasing new and replacement items, effectively stabilizing expectations across various sectors. As of last week, the initiative to trade in old consumer goods for new ones has driven related product sales to exceed 540 billion yuan, benefiting nearly 75 million people.