National Development and Reform Commission: Will speed up the introduction of enhanced implementation of equipment renewal loan interest subsidy policy.

On May 20th, the National Development and Reform Commission (NDRC) held a press conference for the month of May. Li Chao, deputy director of the NDRC Policy Research Office and spokesperson of the Commission, stated that the NDRC will speed up the allocation of funds for the exchange of old for new consumer goods in collaboration with the Ministry of Finance. They will promptly complete the clearance of funds for consumer goods replacement in 2024 and allocate subsequent funding amounts. At the same time, they will improve the efficiency of fund utilization, establish a mechanism for direct and fast access to ultra-long-term special national bond funds, promptly introduce and implement equipment renewal loan interest subsidy policies to reduce the financing costs for equipment renewal by various operating entities. They will also push for relevant departments to further simplify the subsidy application process, clarify the review and payment deadlines, implement fund operation systems, enhance consumer experience, and alleviate the financial pressure of operating entities.