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China will further unleash the potential of automobile consumption and support consumption of clean energy vehicles

CCTV NEWS ·  Jun 22, 2022 23:07

The Executive meeting of The State Council confirmed the policy of increasing support for automobile consumption. The meeting stressed the need to further unleash the potential of automobile consumption: First, invigorate the second-hand car market and promote automobile renewal consumption. For small non-operating second-hand cars, restrictions on moving in will be completely lifted from August 1, and separate endorsement and temporary license plates will be issued for transfer registration from October 1. Second, we will support the consumption of clean energy vehicles. The vehicle purchase tax should be mainly used for highway construction, and the extension of the policy of exempting clean energy vehicle purchase tax should be studied considering the current reality. Third, we will improve parallel import policies and support the construction of parking lots. The implementation of the policy is expected to increase automobile and related consumption by about 200 billion yuan this year. (CCTV News)

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