Four departments jointly hold a meeting to promote large-scale equipment updates and the financial work of exchanging old for new consumer goods

The People’s Bank of China, the National Development and Reform Commission, the Ministry of Finance, and the State Administration of Financial Supervision jointly held a meeting to promote large-scale equipment updates and the financial work of exchanging old for new consumer goods. The meeting emphasized the need to adhere to market orientation and government guidance, encourage advanced and eliminate backward, adhere to standard guidance and orderly improvement. On the basis of following market laws, the government has introduced incentive policies, financial institutions make independent decisions and bear risks, issue loans in accordance with market-oriented and legal principles, and effectively enhance the ability and quality of financial support for large-scale equipment updates and consumer goods trade in.