Published on: 2026-08-21
Source: People’s Republic of China — Translation
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Beijing, August 21 /Xinhua/ — The Ministry of Finance of China has adopted a series of measures to support and stimulate consumption as part of the country’s efforts to expand domestic demand and unlock consumer potential, Deputy Minister of Finance of the People’s Republic of China Liao Min said at a press conference on Friday.
Since the beginning of the current year, the Ministry of Finance of the People’s Republic of China has allocated 187.5 billion yuan (about 27.65 billion US dollars) to support trade-in programs for consumer goods, which has enabled 178 million people to receive cash subsidies and generated 1.32 trillion yuan from the corresponding sales.
According to the official, this ministry has also implemented a coordinated fiscal and financial policy to stimulate domestic demand, providing targeted support to consumer demand among the population and economic entities in the consumption sector.
Meanwhile, in 50 cities across the country, lottery campaigns for sales receipts were launched on an experimental basis, which generated more than 370 billion yuan from sales in the respective sectors, he added. -0-
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