China to subsidise vehicle buyers in rural areas -source

Newswire

BEIJING, May 28 (Reuters) - The government of China will soon resume paying subsidies to rural residents who trade in old vehicles for new, fuel efficient ones in an effort to rekindle demand amid a slowdown in the world's largest auto market, a government official told Reuters on Monday. Beijing has used such incentives before, as in 2009 when the government introduced a similar stimulus package with tax incentives for cars with engine sizes of 1.6 liters or smaller and subsidies for rural ...

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