SHANGHAI — China is rushing to tamp down fears of an abrupt end to its 300 billion yuan ($41.7 billion) subsidy program now that several cities have suspended or downsized their plans earlier than anticipated.
“Are some regions canceling ‘national subsidies’? Not true,” read a headline published by state news agency Xinhua on Wednesday evening. The article assured readers that the program will continue, citing “interviews with relevant departments and officials across various regions.”
