250 billion yuan to support the replacement of old consumer goods; the Ministry of Finance will strengthen inclusive policies that directly reach consumers.

At today’s (22nd) China Development Forum 2026 Annual Conference, Finance Minister Lan Fo’an stated that in response to the prominent contradiction of strong supply and weak demand in the current economic operation, a comprehensive use of policies such as deficits, special bonds, and loan interest subsidies will be employed to build a strong domestic market.

Lan Fo’an indicated that efforts will be made to boost consumption more vigorously, increasing the reach of inclusive policies directly to consumers. This year, over 250 billion yuan of ultra-long-term special government bonds will be allocated to support the replacement of old consumer goods, and a special fund of 100 billion yuan for financial cooperation to promote domestic demand will be established, along with more “real money” to stimulate consumption. At the same time, long-term consumption capacity will be enhanced, support for employment will be strengthened, the social security system will be improved, and the regulatory roles of taxation and transfer payments will be reinforced to increase residents’ income through multiple channels.

In terms of expanding effective investment, the structure of government investment will be optimized, making good use of ultra-long-term special government bonds, local government special bonds, and central budget investments, focusing more on key areas such as new productivity and new urbanization, and directing more investment towards strategically significant aspects that help improve total factor productivity, vigorously supporting the construction of major engineering projects defined in the 14th Five-Year Plan.

Finance Minister Lan Fo’an: We will improve fiscal and tax support policies to help private enterprises share risks, reduce financing costs, and stimulate private investment enthusiasm. This year, we have specifically allocated funds to provide credit enhancement for private enterprise bond issuance; established a special guarantee plan for private investment, and implemented loan interest subsidy policies for small and micro enterprises to guide financial resources more towards operational entities and the real economy.

(Reporter Liu Ying, Ding Yani)

(Source: CCTV News Client)

(Editor: Bi Fengzhi)

(Editor: Wen Jing)

Keywords:

                                                            Replace the old with the new
                                                            Consumption