BEIJING, Sept. 30 -- China's National Development and Reform Commission (NDRC) said Tuesday that together with the Ministry of Finance, it has released the fourth -- and final -- tranche of this year's ultra-long special treasury bonds earmarked for consumer-goods trade-ins.
With this tranche, 69 billion yuan (about 9.7 billion U.S. dollars) in treasury bonds, the full-year central-government funding of 300 billion yuan has been completely disbursed.
The bond issuances are part of a broader effort to revive domestic demand by upgrading industrial equipment and replacing old consumer goods such as home appliances and vehicles.
Between January and August, 330 million consumers claimed trade-in subsidies, generating more than 2 trillion yuan in related sales.
Looking ahead, the NDRC will strive to disburse subsidies in a balanced and orderly manner, crack down on fraud and illegal profiteering, and ensure that every dollar of subsidy is used effectively to achieve tangible results.
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