Shanghai, November 18 (Gasgoo.com) China’s Ministry of Commercial is considering raising the subsidy amount for vehicle "trade-in," an official from Commerce Ministry said to the China Securities Journal today.
The cut for auto sales tax may extend to next year while some stimulus will be substituted for new ones, the official added. However, he has not disclosed the details of the subsidy amount for trading in an old car for a new one yet.
Reportedly, three proposals for auto sales tax regulation have been floated, one of which is that the current stimulus measure of tax cut (to 5%) on small cars with an engine size of 1.6-liters or less will be relaxed to 2.0-liter vehicles.
