On June 24, the People's Bank of China and five other departments jointly issued the "Guidelines on Financial Support for Boosting and Expanding Consumption". The Guidelines state that efforts should be made to increase credit support for enterprises engaged in the recycling and dismantling of end-of-life motor vehicles, vigorously develop auto loan businesses, and rationally determine loan-to-value ratios, terms, and interest rates based on factors such as borrowers' credit standing and repayment capacity. Additionally, relevant fees arising from early settlement of loans during the vehicle trade-in process should be appropriately reduced or exempted. View Details >