The government of Henan Province in China has stated that it aims to vigorously boost market confidence and promote sound economic growth in 2023. Accordingly, Henan Province will expand the scale of production of recycled metals, speed up the large-scale upgrading of equipment in steel enterprises and set up a provincial iron and steel group in the given year.
Moreover, Henan Province stated that it will also stabilize the consumption of commodities. It has encouraged local regions to issue policies to benefit consumers, it has extended the vehicle purchase subsidy policy until the end of March 2023 and has provided a subsidy of five percent of the purchase price of new vehicles (not more than RMB 10,000/unit).
