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Lan Foan: The central government has taken out "real money" to vigorously promote consumption, increase pensions, and issue childcare subsidies to enhance consumption power

On March 23rd, Minister of Finance Lan Foan said at the "China Development Forum 2025 Annual Meeting" that one of the focuses of this year's fiscal policy is to vigorously boost consumption. The central government has provided real money to promote consumption on both sides of supply and demand. This year, 300 billion yuan of super-long-term special government bond funds will be arranged to support consumption "trade-in". The scale of funds has doubled from last year, directly reducing consumers' shopping costs. Focus on the combination of benefiting people's livelihood and promoting consumption, and enhance consumption capacity and willingness by raising pension levels and issuing childcare subsidies. Increase linkage with financial policies, and give discounts to personal consumption loans and corporate loans in related fields. The central government has also arranged incentive and subsidy funds to support local governments to create more new consumption hotspots.