This morning, the State Information Office held a press conference on the theme of the “15 Five-Year Plan” series. A relevant person in charge of the Ministry of Finance explained that the policy of fiscal and financial collaboration to promote domestic demand has been optimized and improved, and implementation began on August 1. According to reports, the optimized and improved fiscal and financial coordination policy to promote domestic demand mainly includes three new measures: First, broadening the scope of interest rate discounts. On the basis of previous fixed capital loans, newly issued working capital loans are included in the scope of interest rate discount policies for micro, small and medium-sized enterprise loans; they are closer to popular consumption habits, and all types of new credit card instalment purchases, including car purchases and renovations, are included in the scope of policy support. According to this, consumers can enjoy interest rate discounts as long as they use credit card installments to spend. Second, increase the number of management agencies. Further expand the scope of loan interest rate discount agencies for micro, small and medium-sized enterprises and loan interest rate discount management agencies, from about 100 to about 400, including 21 national banks and urban commercial banks with a financial supervision rating of 3A or above, rural cooperative financial institutions, private banks, and foreign banks, covering a wide range of urban and rural operators. Third, raise the quota limit. The maximum interest rate discount loan size for micro, small and medium-sized enterprises enjoying the policy was raised from 50 million yuan to 75 million yuan, the maximum interest rate discount loan size for service business entities enjoying the policy was raised from 10 million yuan to 20 million yuan; and the maximum interest rate discount limit for personal consumption loans enjoying the policy was raised from 3,000 yuan to 5,000 yuan to better meet the investment and consumption needs of business entities. Vice Minister of Finance Liao Min said that in line with the needs of economic development, we are continuing to study and formulate new policies and new measures, which will be launched in the second half of this year. At the same time, by strengthening overall coordination, we will work with the central bank and financial management departments to promote the normalization and long-term effectiveness of fiscal and financial linkages. We expect these policies to further increase the sense of acquisition for businesses and residents.

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