China to expand sales tax cuts on cars in 2010-paper


SHANGHAI, Nov 30 (Reuters) - China will continue to support its auto industry next year with more extensive tax incentives, the Shanghai Securities News said. The Ministry of Finance and the National Development and Reform Commission have both agreed to carry on with sales tax cuts on cars in 2010, a move which has bolstered the country's auto sales to record monthly highs this year, the newspaper said over the weekend, without citing sources. Tax cuts will apply to all passenger cars, ...

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