Economy

China considers extending purchase tax exemption for new energy vehicles


FILE PHOTO: Cars wait in traffic in Shanghai, China March 10, 2021. Picture taken March 10, 2021. REUTERS/Aly Song

BEIJING (Reuters) – China will step up support for automobile consumption and expects vehicle and auto-related consumption to increase by about 200 billion yuan in 2022, state media reported, citing a regular cabinet meeting on Wednesday.

China is also considering extending a purchase tax exemption for new energy vehicles, the meeting, chaired by premier Li Keqiang, said.

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