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China eyes subsidies to develop energy-saving vehicles

(Reuters) – China is considering tax exemptions and subsidies for buyers of energy-saving vehicles in an attempt to boost its low-emissions auto sector, the Shanghai Securities News reported on Tuesday.

The development plan submitted to the State Council is part of broader efforts to upgrade China’s fragmented automobile sector and establish an early footing in the production of low-emission and environmentally friendly vehicles.

In 2009, Beijing introduced a similar stimulus package with tax incentives for cars with engine sizes of 1.6 liters or smaller and subsidies for rural residents. That move spurred car sales and helped China surpass the United States as the world’s largest auto market.


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