Shanghai, November 13 (Gasgoo.com) The withdrawal of China’s automotive stimulus policy that halved sales tax is confronting great pressure. Unsurprisingly, it will remain unchanged next year, said a senior official of the State Information Center, reported Nanfang Daily today.
The extension and expiration of the stimulus measures over the two mainstays of Chinese economy, automotive and estate industries, will definitely lead to the fluctuations of China’s economic development.
It is estimated that the automotive stimulus may extend to next year to ensure the steady growth of the auto industry. The relevant departments are working on the detailed policies, which are expeted to be released soon.
China’s auto market has gone through a double increase this year, the official added. Both the stimulus and economy recovery have boosted the auto market to an inspiring high of 30% growth.
