Ministry of Commerce to “vigorously” promote automobile consumption

The Ministry of Commerce issued guidelines on coordinating the key tasks of promoting business system consumption promotion.
Opinions suggest that the government will promptly implement new policies and measures such as extending new energy vehicle purchase subsidies and tax incentives, reducing VAT on used car sales, and supporting the elimination of old diesel trucks.

The Ministry of Commerce issued guidelines on coordinating the key tasks of promoting business system consumption promotion.

Opinions suggest that the government will promptly implement new policies and measures such as extending new energy vehicle purchase subsidies and tax incentives, reducing VAT on used car sales, and supporting the elimination of old diesel trucks.

In addition, it will assist in the improvement of policies and regulations on motor vehicle scrapping and second-hand car circulation, and strengthen the implementation of regulations and standards.

China will also innovatively improve local car purchase restrictions, promote new car consumption, accelerate the elimination of old cars, remove restrictions on pickup trucks’ entry into urban areas, and improve the car consumption environment.

China will actively promote the shift from restricted purchases of automobiles to guided use policies, and further free up space for automobile consumption.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/28/ministry-of-commerce-to-vigorously-promote-automobile-consumption/.

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