China moots scrap incentives to boost car sales

Newswire

BEIJING, Dec 26 (Reuters) - China will offer incentives for people to scrap their old cars in an attempt to boost its flagging car market, Xinhua news agency said on Friday, quoting an unnamed official with the Ministry of Commerce. The Ministry would give car owners subsidies to scrap their old cars and buy new ones, Xinhua said, and was planning other measures including tax cuts on new car purchases and improved credit services. "Details of the plan will be announced very soon," the ...

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