Finance Minister Lan Fo'an: By comprehensively utilizing long-term special government bonds, government bonds, fiscal subsidies, discounted loans, and other policy tools, we will promote the formation of a virtuous cycle where consumption and investment mutually reinforce each other.

Minister of Finance, Liao Fa'an, stated in an article in the Study Times that the Ministry of Finance firmly grasps the strategic basis of expanding domestic demand, comprehensively using policy tools such as ultra-long-term special national bonds, government bonds, fiscal subsidies, and interest subsidies for loans to promote the formation of a virtuous cycle of mutual promotion between consumption and investment. On one hand, great efforts are made to boost consumption. In the first half of the year, a total of 162 billion yuan of ultra-long-term special national bond funds were allocated in two batches to support the exchange of old products for new ones, further expanding the scope of subsidies, totaling over 1.6 trillion yuan in sales for five major categories of goods. Insisting on combining benefitting the people with promoting consumption, efforts are made to strengthen elderly care, medical care, establish and implement childcare subsidies, and enhance residents' consumption capacity and willingness. On the other hand, active efforts are made to expand effective investment. Focusing on key areas and weak links, increasing investment intensity, improving investment efficiency, and better leveraging the critical role of investment in optimizing the supply structure. In the first half of the year, local governments issued 2.16 trillion yuan of special bonds, further expanding the scope of investment and the range of project capital, providing strong support for the construction of major projects.