China’s Hubei Province has issued subsidy policies limited to one month for vehicle consumption, signaling its determination to boost vehicle consumption, as stated by the China Passenger Car Association (CPCA).
Meanwhile, on March 8, Guangzhou municipal government issued the development plan of Guangzhou to build an international consumption center city (2022-2025), stating that it will promote the replacement of public traffic vehicles and taxis by new energy vehicles (NEVs), and accelerate the orderly replacement of official vehicles of government departments, state-owned enterprises and the municipal administration by NEVs, and will encourage individuals to buy NEVs.