Mainland extends the implementation period of the loan interest subsidy policy for service industry operators until the end of this year

The Ministry of Finance, the Ministry of Commerce, the People's Bank of China, and the Financial Regulatory Bureau have issued a notice stating that the implementation period for the loan interest subsidy policy for service industry operators will be extended until the end of this year. The policy will be implemented in accordance with the relevant provisions of the "Implementation Plan for the Loan Interest Subsidy Policy for Service Industry Operators" for loans issued from March 16 to December 31 of last year. After the policy expires, the possibility of extending the implementation period will be studied based on the situation.

Specifically, a single entity can enjoy a maximum loan scale of RMB 10 million for newly issued loans this year, with an interest subsidy period not exceeding one year, and an annual interest subsidy rate of 1 percentage point. The interest subsidy funds will be borne by the central government and provincial finances at 90% and 10%, respectively