Salem Radio Network News Wednesday, June 29, 2022

Business

China considers extending purchase tax exemption for new energy vehicles

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.

(Reporting by Beijing newsroom and Brenda Goh; Editing by Andrew Heavens)

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