Heilongjiang releases 40 new policies to promote financial consumption

The People’s Bank of China Heilongjiang Branch and Heilongjiang Provincial Department of Finance jointly held a press conference, launching the “40 New Policies for Financial Support of Consumption in Heilongjiang Province,” providing real subsidies to benefit the people and boost consumer confidence, injecting strong momentum into Heilongjiang’s consumer market. The finance department has comprehensively optimized and upgraded two policies: interest subsidies for personal consumer loans and interest subsidies for loans to service industry operators.
For individual consumers, the cap on interest subsidies for a single loan of 50k yuan has been removed, adjusted to a maximum of 3,000 yuan in interest subsidies per resident per year at a single financial institution, and cross-institution consumer loans can enjoy benefits separately.
The policy no longer restricts specific consumption fields; purchasing cars, home renovations, travel, education, and other areas are all eligible.
Consumers only need to apply for loans normally, authorize the bank, and the fiscal subsidy will be automatically deducted when paying interest, with no additional application required.
For service industry merchants (such as catering, cultural tourism, retail, etc.), the upper limit of the loan calculation base for a single enterprise has been increased from 1 million yuan to 10 million yuan, and the subsidy cap has been raised from 10k yuan to 100k yuan, allowing enterprises to enjoy the benefits simultaneously when applying for loans from banks.