Wang Bin, deputy director of the consumption promotion at China’s Ministry of Commerce (MOC), stated on April 2 that China will accelerate its revision of policy on second-hand vehicle circulation and issue detailed rules of implementation of administrative measures for the recovery of scrapped motor vehicles, to promote the scrapping and replacement of old vehicles. This would boost new vehicle sales in China.
Mr. Wang said that taxes and employment in the automobile and related industries accounted for one tenth of overall national volumes, while he added that one job in the auto industry could create seven jobs in related industries.
Meanwhile, the Development and Reform Commission and Transportation Commission of Shanghai issued measures to promote the orderly development of electric vehicle charging facilities, according to which Shanghai will build up demonstration residence communities and issue special subsidies to support the construction of electric vehicle charging facilities in communities. The move by the Shanghai government will likely stimulate new energy vehicles purchases.