Sunday, July 5, 2015   

Electric-car buyers exempt for tax
(07-10 12:28)

China will exempt electric-car buyers from purchase taxes as part of expanded State measures to boost sales of the vehicles, an executive meeting of the State Council said on Wednesday.
From Sept 1 to the end of 2017, the government will waive the auto-purchase tax for new-energy vehicles, which in China refers to all electric cars, plug-in hybridsand fuel-cell vehicles, said the meeting, led by Premier Li Keqiang.
The development of such vehicles is critically important for easing China's energy dependency, combating air pollution, spurring local demand and nurturing the auto industry, the meeting said.
The incentives will be a win-win scenario for the sector, as it nurtures the local auto industry and protects the environment, the meeting said.
New-energy vehicles are important for China's energy independence, so Beijing will "devote more resources to promoting them", said Cai Linlin, a senior auto analyst in Shanghai.
"The waiver is beyond expectations, as the government is expected to roll out a string of policies before EV sales pick up," Cai said.
China now has about 70,000 new-energy vehicles on the road after five years of promotion, a far cry from the central government's call for reaching 500,000 by 2015. --Xinhua   
Other China breaking news:
Air China begins flights to Japanese port city (07-03 17:46)
Premier Li back from Europe trip (07-03 14:52)
Xinjiang earthquake kills three (07-03 12:50)
30 cities get 2.8b yuan to stem heavy metal pollution (07-02 21:20)
China Re issues milestone US$50m catastrophe bond (07-02 21:16)
Taiwan TransAsia crash pilot blundered (07-02 14:28)
Fiery Cross Reef 3,000m runway nearly done, says US think tank (07-02 14:23)
Lhasa draws 41,840 overseas visitors in first half (07-02 13:07)
Taipei offered medical help for park tragedy injured (07-02 12:40)
Another young student dies from Taiwan color party burns (07-02 12:29)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.