- To accelerate issuance of local government special bonds
- To step up VAT credit rebates, ramp up fiscal spending
- Will guide actual lending rates lower
- Will roll out cash subsidies until year-end for firms that hire college graduates
- Will increase international passenger flights in an orderly manner
- To steadily increase consumption of automobiles, home appliances
- Will allow firms to defer social security payments to year-end in industries affected by COVID-19
It's a very top-down approach to things but you get the picture. Beijing is sending a clear message that it wants to keep economic activity moving at pace while having to balance that against its 'zero covid' strategy.
