Beijing launches 18 measures to enhance financial services in the consumer sector.

Recently, the Beijing branch of the People's Bank of China, the Beijing Municipal Finance Bureau, and 12 other departments jointly issued the "Implementation Plan for Financial Support for the Revitalization and Expansion of Consumption in Beijing", introducing 18 specific measures around releasing consumer demand and expanding consumption supply. The "Implementation Plan" aims to further enhance the level of financial services in the consumption sector in Beijing by 2030, with continuous growth in the loan balance for accommodation and catering, cultural tourism sports, education, and residential services consumption sectors, as well as the elderly care industry. The plan also includes increasing the intensity of credit distribution, continuously improving the quality and efficiency of consumer financial services for individuals, and making positive progress in the construction of Beijing as an international consumption center city with the help of financial support, while establishing a diversified consumer finance service system.