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Bolstered by sustained policy support for trade-in programs, China's consumption is likely to continue its robust growth momentum in the second half of the year, better underpinning the country's stable economic growth amid mounting external uncertainties, analysts said.

分析人士表示，在对以旧换新项目的持续政策支持的推动下，中国的消费可能会在今年下半年继续保持强劲的增长势头，在外部不确定性日益增加的情况下更好地支撑该国的稳定经济增长。

China still has ample fiscal headroom to reinforce its trade-in initiative later this year should consumer demand exhaust its initial 300 billion yuan ($42 billion) allocation, they said, emphasizing that similar policy incentives could be extended to the service sector to foster more sustainable consumption growth.

他们表示，如果消费者需求耗尽其最初的3000亿元人民币（420亿美元）的拨款，中国仍有充足的财政空间来加强其以旧换新计划，并强调类似的政策激励措施可以扩展到服务业，以促进更可持续的消费增长。

On Tuesday, the Ministry of Finance announced the issuance of 11 ultra-long-term treasury bonds in the third quarter, with four of them seeing their timelines accelerated compared with the previous plan released in April. This will help maintain a continuous flow of funding to support policies meant to boost consumption, analysts said.

周二，财政部宣布在第三季度发行11只超长期国债，其中4只的发行时间比4月份发布的计划提前。分析人士表示，这将有助于保持持续的资金流动，以支持旨在促进消费的政策。

According to the National Development and Reform Commission, China's top economic regulator, the third group of fiscal funding through ultra-long-term treasury bonds for the consumer goods trade-in program is scheduled to be allocated in July.

周二，财政部宣布在第三季度发行11只超长期国债，其中4只的发行时间比4月份发布的计划提前。分析人士表示，这将有助于保持持续的资金流动，以支持旨在促进消费的政策。

The central government has earmarked 300 billion yuan in ultra-long-term treasury bonds to support the trade-in program for the whole year. The first two groups of fiscal funding, totaling 162 billion yuan, were allocated in January and April.

中央政府已指定3000亿元人民币的超长期国债，以支持全年的置换计划。前两批财政资金共计1620亿元，分别于1月和4月拨付。

"If the remaining 138 billion yuan runs out ahead of schedule, the possibility of unveiling additional funding this year cannot be ruled out," said Zhao Wei, chief economist at Shenwan Hongyuan Securities.

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