2025-08-13
59 分钟Get the unmissable news stories of the day.
This is the Beijing Hour.
Examining the events that impact and shape China and the rest of the world.
This is the Beijing Hour.
One hour of news and information brought to you every weekday.
Now here's your host.
Shane Biggum with you on this Wednesday, August 13th, 2025.
You're listening to the Beijing Hour, coming to you live from the Chinese capital.
On today's program,
a first-of-its-kind policy from China's central government will subsidize loans aiming to spur consumer spending.
China's also unveiled a series of other measures for improving livelihoods and boosting spending.
The White House is downplaying expectations for the U.S.-Russia summit that's coming up on Friday.
In business, China's interest subsidies on consumer loans.
In sports, martial arts gold for China at the World Games.
In culture and entertainment, China's summer box office has reached $9 billion.
Now checking the day's top stories.
China is providing subsidies on personal loans to spur consumption.
Vice Finance Minister Liu Min says it's the first time the central government has introduced a fiscal policy to directly subsidize interest on personal loans.
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,