China Unveils Loan Perks to Boost Investment and Consumption

China has announced a slew of incentives to spur investment and consumption, including a 500 billion-yuan ($72 billion) loan guarantee facility to encourage private companies to borrow for expansion.

The loan guarantee program will last for two years, aiming to help qualified private companies pay for spending such as equipment and raw material purchases and technology upgrades, the Ministry of Finance said in a statement on Tuesday.