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China mulls more incentives to boost auto consumption

China mulls more incentives to boost auto consumption
Issue Time:2019-04-05
China will improve the market environment for car sales and expand the supply of automobiles as part of its latest efforts to boost auto consumption.
The country will strengthen law enforcement to crack down on irregular operations by car dealers so that consumers can make purchases in a market with orderly competition, Gao Feng, the spokesperson for the Ministry of Commerce, said at a press conference Thursday.
The ministry will also work with other government agencies to expand the supply of automobiles to meet more diversified demand, Gao said.
Car manufacturers operating in China have slashed the suggested retail prices of cars over the past weeks after China announced a cut in the VAT in manufacturing and other industries.
The cut in VAT will boost auto consumption, while allowing car manufacturers to invest more into upgrading their products, Gao said.
Tianjin Zhongchi Industry Co.,Ltd
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