The Chinese Communist Party’s tepid relationship with consumer stimulus is heating up again. Only two weeks after the Politburo signaled it would make no further efforts to stimulate weak consumer demand, the national government announced it would offer subsidized personal loans to prod consumers into spending more money.
The new loan program is a co-production of the Chinese Ministry of Finance, the National Financial Regulatory Administration, and the People’s Bank of China (PBC).
The loans, which will have low interest rates financed by government subsidies, are meant to cover major purchases such as automobiles, education, home…
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