China ramps up financial aid to boost spending

The Chinese Ministry of Finance has increased financial support to stimulate consumption as part of the country's efforts to expand domestic demand and boost economic growth. To date, the ministry has allocated 187.5 billion yuan (approximately $27.65 billion) to support programs for replacing old goods, resulting in 178 million transactions with a total value of around 1.32 trillion yuan. Additionally, prize draw campaigns for receipts have been launched in 50 cities, achieving sales exceeding 370 billion yuan, with the aim of strengthening demand both among consumers and businesses.

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