Commerce Ministry urges old car replacement

Shanghai, December 26 (Gasgoo.com) China's Ministry of Commerce is planning to issue new policy that encourages old cars substitution and stimulates new car sales, Shanghai Securities News reported today.
 
The Chinese government is considering a series of stimulus packages to prop up its auto industry, including cutting car purchase tax and encouraging auto financing, an official disclosed. The Commerce Ministry, in charge of commodity sales, plans to subsidize that who replaces old cars in advance to stimulate new car sales.

The policy is to come out as soon as possible, the official said.