Key Points
- China on Thursday announced its most targeted measures yet for boosting consumption, which has remained lackluster since the pandemic.
- Authorities announced they would allocate 300 billion yuan ($41.5 billion) in ultra-long special government bonds to expand an existing trade-in and equipment upgrade policy.
- The policy at least doubles the subsidies for new energy and traditional fuel-powered vehicle purchases to 20,000 yuan and 15,000 yuan per car, respectively.
