Ivan Radic
Shares of Chinese automakers rose after the plans were revealed by the Commerce Ministry in a joint statement with 16 other authorities. Shares of Geely, for instance, increased by 6%, and those of Great Wall Motor, by 4%.
A harsh lockdown in Shanghai and other regions of the nation in recent months to tackle the omicron strain COVID-19 has negatively impacted the world's largest auto market.
Last month, authorities reduced the car purchase tax for vehicles under 300,000 yuan ($45,000) with engines up to and including two liters by half, to 5 percent, as part of the new initiative.
source: english.news.cn
A harsh lockdown in Shanghai and other regions of the nation in recent months to tackle the omicron strain COVID-19 has negatively impacted the world's largest auto market.
Last month, authorities reduced the car purchase tax for vehicles under 300,000 yuan ($45,000) with engines up to and including two liters by half, to 5 percent, as part of the new initiative.
source: english.news.cn