[Ministry of Finance: Consumers can enjoy discount subsidies as long as they consume via credit card installment]

The State Council Information Office held a series of press conferences on "A Strong Start to the 15th Five-Year Plan". A relevant official from the Ministry of Finance introduced that the fiscal and financial collaborative policies to boost domestic demand have been optimized and improved, and have been implemented since August 1. According to the introduction, the optimized and improved fiscal and financial collaborative policies to boost domestic demand mainly include three new measures:

First, expanding the scope of discount subsidies. On the basis of previous fixed asset loans, newly issued working capital loans have been included in the scope of discount subsidy policies for small and medium-sized enterprises (SMEs) loans; to better align with mass consumption habits, various new credit card installment consumption, including car purchases and home renovations, have been included in the scope of policy support. Accordingly, as long as consumers consume via credit card installment, they can enjoy discount subsidies.

Second, increasing the number of handling institutions. Further expand the scope of handling institutions for discount subsidies for SME loans and service industry business entity loans, from about 100 previously to about 400, including 21 national banks and city commercial banks, rural cooperative financial institutions, private banks, and foreign banks with a financial regulatory rating of 3A and above, widely covering urban and rural business entities.

Third, raising the upper limits. Increase the upper limit of discounted loan size for eligible SMEs from 50 million yuan to 75 million yuan, and increase the upper limit for eligible service industry business entities from 10 million yuan to 20 million yuan; increase the upper limit of individual consumer loan discount subsidies from 3,000 yuan to 5,000 yuan, to better meet the investment and consumption needs of business entities.