China has unveiled the details of an extension to its popular consumer goods trade-in scheme, a policy which has helped to fuel short-term boosts in consumption and contributed to the achievement of nationwide targets for economic growth.
On Tuesday, the National Development and Reform Commission (NDRC) – the country’s top economic planner – announced with the Ministry of Finance that 62.5 billion yuan (US$8.93 billion) in ultra-long-term special bonds would be fast-tracked to local governments…