Saturday, November 1, 2014   

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:
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Liaoning court official dead in suspected suicide (10-30 16:11)
China buries war dead returned by South Korea (10-30 12:49)
Boss of Shanghai power firm under graft probe (10-29 18:10)
Former bank chief on trial for corruption (10-29 18:02)
Chinese VP meets with Japanese governor delegation (10-28 16:50)
6 dead, 5 injured in China's road accident (10-27 19:00)
Private clubs banned in historical buildings, parks (10-27 17:34)
China considering to scrap death penalty for 9 crimes (10-27 17:04)
PETA praises Taiwan for raid on pigeon race gambling club (10-27 16:46)

More breaking news >>

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