China Unveils Initial $9 Billion in Consumer Subsidies for 2026

China will provide nearly $9 billion to subsidise its consumer goods trade-in drive next year, extending a stimulus program aimed at shoring up domestic demand and countering external headwinds faced by the world’s No. 2 economy.

The government plans to raise 62.5 billion yuan ($8.9 billion) to fund the first tranche of subsidies by selling ultra-long special sovereign bonds, the National Development and Reform Commission, China’s top economic-planning agency, said in a statement Tuesday.