Caixin
May 27, 2022 08:25 PM
BUSINESS

China Subsidizes Airlines, Car Purchases to Ease Pain of Crippling Lockdowns

Passenger planes are seen at Hongqiao International Airport in Shanghai on May 16. Photo: VCG
Passenger planes are seen at Hongqiao International Airport in Shanghai on May 16. Photo: VCG

China has begun to hand out subsidies to airlines and consumers buying durable goods such as cars and electronics as policymakers step up support for businesses hit hard by Covid control measures.

It comes after more modest stimulus efforts failed to shore up the economy in the face of strict “zero-Covid” lockdowns that have slowed business activity in many regions to a crawl.

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