Henan Province has introduced a new set of measures aimed at further boosting consumption, with a focus on strengthening fiscal and financial support.
The General Office of the Henan Provincial Government recently issued the "Several Policy Measures for Further Boosting Consumption in Henan Province."
According to the document, the province will optimize and implement the fiscal interest subsidy policy for personal consumer loans to reduce the cost of consumer credit.
Additionally, the measures encourage financing guarantee institutions and banking institutions to establish a "joint bank-guarantee review" mechanism, guiding them to lower guarantee fee rates for high-quality small, medium, and micro enterprises in the consumer sector and to provide long-term guaranteed loans with terms of one year or more.
Financial institutions are also encouraged to introduce measures such as instant discounts on consumer payments and the distribution of vouchers.
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