Sichuan Fiscal Measures Spur Over RMB 750 Billion in New Loans

A press conference on Sichuan Province's coordinated fiscal and financial policy package to boost domestic demand was held in Chengdu on September 16, 2026. Shuai Xu, deputy director of the Sichuan Provincial Finance Department, said at the conference that the policies aim to promote household consumption and corporate investment. Since the start of 2026, the Ministry of Finance has arranged RMB 100 billion to launch a six-policy package for fiscal-financial coordination to boost domestic demand. The package includes four loan interest subsidy policies covering small and medium-sized enterprises, equipment upgrading, service-sector business entities, and personal consumption, as well as two guarantee and risk-sharing policies: a special guarantee plan for private investment and a risk-sharing mechanism for private enterprise bonds. The measures cover both consumption promotion and investment expansion.

The Sichuan Provincial Finance Department has allocated RMB 1.636 billion in central and provincial interest subsidy funds to banking institutions. According to preliminary statistics, as of the end of August 2026, the policy package had guided financial institutions to issue more than RMB 750 billion in related new loans, while the special guarantee plan covered business volume of more than RMB 6 billion, benefiting more than 3.4 million market entities in total. Liang Wuhu, deputy director of the Sichuan Provincial Development and Reform Commission, said at the conference that the commission, relying on the national coordination mechanism for small and micro enterprise financing, is advancing bank-enterprise matching and reducing financing costs for small and medium-sized enterprises.

CALB Technology Group has established three major industrial bases in Chengdu, Meishan, and Zigong, building 120GWh of production capacity and its only cathode materials base. In June 2026, the Chengdu Phase II project went into production and now supplies Li Auto. Geng Yan'an, senior vice president of CALB Technology Group and general manager of its Sichuan region, said the company's projects in Sichuan have involved cumulative investment of RMB 40 billion and have received more than RMB 10 billion in special credit support from multiple financial institutions in the province, with some loans benefiting from more than RMB 10 million in national equipment upgrading loan interest subsidies.

Yin Qizhi, spokesperson and deputy director of the Sichuan Provincial Department of Commerce, said at the conference that in 2026 the Sichuan Provincial Finance Department has allocated RMB 815 million in central and provincial funds to handling institutions for interest subsidies on service-sector business entity loans and personal consumption loans. According to preliminary statistics, from January to August 2026, the policy package guided financial institutions to issue approximately RMB 691.8 billion in related new loans, including about RMB 292.7 billion in service-sector business entity loans and about RMB 399.1 billion in personal consumption loans, benefiting approximately 3.44 million business entities and consumers.