The NDRC mentions that “the size of ultra-long special government bond funds will be sharply increased this year to intensify and expand the implementation of two new initiatives”. That being a subsidy programme where consumers can trade in old durable goods and buy new ones at a discount, as well as a subsidy programme allowing for businesses to upgrade large-scale equipment.
This builds on the slew of remarks by Beijing from earlier in the day here.
This article was written by Justin Low at www.forexlive.com.
