Vice Minister of Finance Liao Min explained that the package of policies has made strong use of the financial multiplier effect to support the contrarian growth of key investments and credit investment in the consumer sector. In January-July of this year, through six policy instruments, such as loan interest rates for micro, small and medium-sized enterprises, loan interest rates for equipment renewal loans, and interest rate discounts for service operators, interest rates on personal consumption loans, etc., a total of more than 20 trillion yuan was supported, an increase of more than 880 billion yuan over the same period last year, an increase of 4.5%. It not only benefited traditional industries such as agriculture, forestry, animal husbandry, side fishing, cultural tourism and health care, etc., but also supported emerging and future industries such as high-end equipment, artificial intelligence, green and low carbon, and biological manufacturing. At the same time, the policy focuses on overcoming difficulties and blockages in private investment. From January to July, the four investment promotion policies supported a total of about 1.51 trillion yuan in private investment. Furthermore, the policy has also strongly promoted residents' consumption. In January-July, the two consumer promotion policies supported a total of about 1.88 trillion yuan in consumer spending, which not only empowered service operators from the supply side, fully supported service consumption fields such as catering and lodging, culture and entertainment, health and pension, and increased the supply of quality services; they also enhanced residents' consumption capacity on the demand side, and resonated with consumer promotion policies such as consumer subsidies, trade-in, and incentive invoices, which strongly supported the daily consumption of residents.

Vice Minister of Finance Liao Min explained that the package of policies has made strong use of the financial multiplier effect to support the contrarian growth of key investments and credit investment in the consumer sector. In January-July of this year, through six policy instruments, such as loan interest rates for micro, small and medium-sized enterprises, loan interest rates for equipment renewal loans, and interest rate discounts for service operators, interest rates on personal consumption loans, etc., a total of more than 20 trillion yuan was supported, an increase of more than 880 billion yuan over the same period last year, an increase of 4.5%. It not only benefited traditional industries such as agriculture, forestry, animal husbandry, side fishing, cultural tourism and health care, etc., but also supported emerging and future industries such as high-end equipment, artificial intelligence, green and low carbon, and biological manufacturing. At the same time, the policy focuses on overcoming difficulties and blockages in private investment. From January to July, the four investment promotion policies supported a total of about 1.51 trillion yuan in private investment. Furthermore, the policy has also strongly promoted residents' consumption. In January-July, the two consumer promotion policies supported a total of about 1.88 trillion yuan in consumer spending, which not only empowered service operators from the supply side, fully supported service consumption fields such as catering and lodging, culture and entertainment, health and pension, and increased the supply of quality services; they also enhanced residents' consumption capacity on the demand side, and resonated with consumer promotion policies such as consumer subsidies, trade-in, and incentive invoices, which strongly supported the daily consumption of residents.