Hubei Issues Over RMB 580 Billion in Fiscal-Financial Loans to Boost Domestic Demand in 2026

Hubei held a press conference on deepening fiscal-financial coordination to empower technological innovation and high-quality development. In 2026, China deployed a package of fiscal-financial policies to boost domestic demand. The Hubei Provincial Department of Finance said at the press conference that new loans issued under the package across the province have exceeded RMB 580 billion.

The Hubei provincial finance authorities have allocated an additional RMB 100 million to expand the implementation of two consumer loan interest subsidy policies. The number of banking institutions providing interest subsidy policy services has expanded from 44 to 111, with all banks operating in Hubei included. The scope of interest subsidies has been broadened, with all personal consumer loans and credit card installment businesses included in the policy support scope and granted a 1 percentage point fiscal interest subsidy; working capital loans for small, medium and micro enterprises have been newly included in the support scope for small, medium and micro enterprise loans and granted a 1 percentage point fiscal interest subsidy. The subsidy limits have been raised, with the upper limit for personal consumer loan interest subsidies increased from RMB 3,000 to RMB 5,000, and the upper limit on the scale of subsidized loans for service industry business entities increased from RMB 10 million to RMB 20 million.