[Voiceover] Chinese authorities have introduced two major subsidy programs to stimulate economic growth. First, starting this September, a one-year personal consumption loan subsidy will offer shoppers a 1-percent interest rebate on purchases up to 50,000 yuan, roughly 7000 US dollars. Meantime, a parallel program targets eight key service industries - including catering, tourism, healthcare, elderly care, and childcare - providing a 1-percentage-point interest subsidy on loans. To qualify, businesses must use the funds to upgrade consumption infrastructure or expand service capacity, with loans issued between March 16 and December 31 this year. The central government will cover 90 percent of the subsidies, while provincial authorities contribute the remaining 10 percent. Eligible businesses can receive up to 1 million yuan, around 140,000 US dollars in subsidized loans. At a press briefing on Wednesday, Vice Finance Minister Liao Min said these policies leverage public funds to amplify private sector financing, directing more resources into consumption-driven sectors. Early estimates suggest every yuan in subsidies could mobilize 100 yuan in loans - potentially unlocking significant spending power. He also highlighted the significance and commitment of the new dual programs. [Soundbite] Liao Min, China's Vice-Minister of Finance: "The interest subsidy policies for personal consumption and service industry loans mark the first central government-level initiative of its kind. As some media have termed it, this represents another round of 'national subsidies' for consumer loans, vividly reflecting the government's strong commitment to boosting consumption. The policies are designed to serve the people, carefully considering public needs in their support scope while streamlining procedures for efficiency - highlighting their people-oriented and inclusive nature." [Voiceover] The personal consumption loan program is being offered through 23 financial institutions, comprising six major state-owned commercial banks, twelve national joint-stock commercial banks, and five licensed non-bank lenders. Meanwhile, the service sector business loan program is available through 21 designated national banks. [Restrictions: No access Chinese mainland]