Salem Radio Network News Thursday, August 11, 2022

Business

China studying extending tax exemption for NEVs – commerce ministry

SHANGHAI (Reuters) – China is studying the possibility of extending a tax exemption for new electric vehicles (EV) as part of a raft of efforts to spur vehicle consumption in the country, the commerce ministry said on Thursday.

It also announced a series of measures to encourage trade-ins of old vehicles and support the second-hand market.

(Reporting by Brenda Goh; Editing by Jacqueline Wong)

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