China is implementing a series of comprehensive measures, including fiscal, tax, and financial policies, to significantly boost domestic demand. The State Council emphasized optimizing the consumer goods trade-in program to maximize its impact on expanding consumption.

• The National Development and Reform Commission will allocate the final batch of 69 billion yuan ($9.6 billion) in ultra-long-term special treasury bonds in October, completing the planned 300 billion yuan for the trade-in program.
• The trade-in program has already spurred purchases of over 109 million home appliances and 74 million digital devices.
• Luo Zhiheng, chief economist at Yuekai Securities, suggested that incentives similar to the trade-in program should be applied to boost the services sector, especially sports consumption.
• China introduced a new loan interest subsidy for businesses in eight eligible service sectors, including sports, offering a 1 percentage point annual interest rebate for up to one year on loans up to 1 million yuan.