A total of 300 billion yuan (about 21.3 billion U.S. dollars) ultra-long special treasury bonds to support large-scale equipment upgrades and trade-in of consumer goods have been fully allocated, according to an official from the National Development and Reform Commission (NDRC), China's top economic planner, on Monday.
According to Zhao Chenxin, deputy director of the National Development and Reform Commission (NDRC), multiple departments have identified over 4,600 eligible equipment upgrade projects.
The 150-billion-yuan ultra-long special treasury bonds for equipment updates have been fully allocated to these projects in two batches. Additionally, another 150-billion-yuan ultra-long special treasury bonds for the trade-in of consumer goods have been fully distributed to localities since early August.
"At the local level, 31 provinces, autonomous regions, municipalities directly under the central government, municipalities with independent budgetary status, and the Xinjiang Production and Construction Corps, have all issued implementation plans to strengthen support for large-scale equipment upgrades and trade-in of consumer goods. At the same time, various local supporting implementation details have been issued, totaling over 140," said Zhao.
Currently, supporting implementation details for enhancing equipment upgrades and trade-in of consumer goods have been fully rolled out, covering equipment updates in eight areas such as industrial equipment, new energy buses, and old elevators, as well as trade-in of consumer goods in four sectors including automobiles, home appliances, and kitchen and bathroom renovations.
China allocates 300 bln yuan ultra-long special treasury bonds
China allocates 300 bln yuan ultra-long special treasury bonds
