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Overview of any government movements affecting end consumers and brands.
To stimulate domestic spending, China has implemented a new policy providing interest subsidies on personal consumption loans.
From September 2025 to August 2026, residents can receive a 1% interest subsidy on personal loans, capped at 50% of the loan rate. The funding for this initiative is primarily from the central government at 90%, with provincial finance contributing the remaining 10%.
For loans under RMB 50,000 (nearly $7,000), borrowers can take multiple loans and claim up to RMB 1,000 from a single institution. For loans exceeding RMB 50,000, the subsidy is capped at RMB 500 per loan for categories such as cars, healthcare, education, technology, travel and home renovation. For these focused categories, each borrower can claim a total of up to RMB 3,000 from a single institution.
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