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China to spur consumption with 33b yuan

(chinadaily.com.cn)
Updated: 2009-08-11 16:36

China will spend 33 billion yuan ($48.72 billion) to spur domestic consumption, the China Business News reported today, citing sources from the Ministry of Commerce.

Related readings:  Chinese per capita consumption spending up 8.9% in H1  China bankcard holders' consumption confidence lower in Q2

The 33-billion-yuan fund will be used to support the rural home appliance subsidy program and the auto sector’s trade-in subsidy program.

The fund will also be used to establish a rural market system, and to support the urban service industry and small and medium-sized trading firms.