Seventeen Chinese government departments, including China's Ministry of Commerce (MOC), have issued a notice on measures to invigorate the circulation of automobiles and expand automobile consumption, focusing on supporting purchases of new energy vehicles, invigorating the second-hand vehicle market, supporting imports of cars, optimizing the market environment, and enhancing auto financing services.
The MOC stated that the consumption of automobiles will likely indicate rapid growth in the second half of the year following the issuance of policies which will play an active role in stabilizing economic development.
Moreover, local governments will issue consumption coupons to stimulate vehicle purchases.