China’s Commerce Ministry says a car-purchasing tax cut and old-for-new trade-in subsidies are generating strong results. The government’s Xinhua news service quotes a ministry statement as saying car buyers are actively responding to the new policy, which took effect Jan. 1, as both the average daily number of subsidy applications and subsidy handouts have more than doubled from before the new program was introduced. The ministry says as of Feb. 12, more than 23,000 new vehicles had ...
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