Guangzhou Introduces Ten Measures to Support Finance and Promote Consumption

Mars Finance News reported on April 11 that the Finance Office of the Guangzhou Municipal Committee has recently jointly issued with the People’s Bank of China Guangdong Branch, the Guangdong Financial Regulatory Administration, the Municipal Bureau of Commerce, and the Municipal Bureau of Culture, Radio, Television and Tourism the “Several Measures of Guangzhou to Further Increase Financial Support and Promote Consumption.” The measures focus on all consumption scenarios and the entire supply chain, and roll out ten practical initiatives to spur new momentum for consumption growth by using financial liquidity.

The ten initiatives cover making full and effective use of specialized financial policy tools, optimizing the payment environment, enriching the supply of consumer credit products, supporting innovation in insurance products, guiding local financial institutions to help promote consumption, enabling diversified consumption scenarios, deeply integrating into the key areas of the “Hundred, Thousand, Ten Thousand Project” to upgrade consumption, exploring innovative “consumer finance + AI” service model innovations, preventing risks in consumer finance, establishing a work coordination and linkage mechanism, and more. They comprehensively cover consumption areas such as accommodation and catering, cultural tourism and sports, elderly care and childcare, automobiles and home appliances, rural tourism, and new business formats. (China News Service)