Ministry of Finance: Issuance of 1.3 trillion yuan of ultra-long-term special government bonds by 2025 to continue supporting the "Two Highs" and "Two News" industries.

Today, the Information Office of the State Council held a press conference, where officials from the Ministry of Finance introduced the situation related to the implementation of proactive fiscal policies to promote high-quality economic and social development. At the press conference, it was announced that in 2025, efforts will be made to boost consumption. Firstly, issuing 1.3 trillion yuan in ultra-long-term special government bonds to continue supporting the "two heavy" and "two new" initiatives, including allocating 300 billion yuan for the replacement of old consumer goods with new ones, providing "real money" subsidies to the people to stimulate consumption, driving related product sales to exceed approximately 2.6 trillion yuan, and accelerating the entry of a large number of green, low-carbon, and smart products into people's lives, thus improving people's quality of life and promoting economic transformation and development. Secondly, stimulating consumption potential from both supply and demand sides, implementing interest rate subsidies for personal consumption loans and loans for service industry operators, supporting the pilot projects of new consumption formats, models, and scenes, and constructing an internationalized consumption environment. Thirdly, adjusting and optimizing duty-free shops and tourist departure tax refund policies, increasing the number of duty-free shops, and encouraging and expanding related consumption.