China has unveiled a slew of measures to invigorate automobile circulation and boost auto consumption, as multiple factors have weighed heavily on the industry.
The Ministry of Commerce and 16 other government departments have detailed 12 specific measures in six aspects to inject impetus into the auto sector, Vice Minister of Commerce Sheng Qiuping announced at a press conference on Thursday.
Steps have been initiated to build a unified national market for automobiles that is rule-based and features interconnectivity, with efforts to remove local protectionism in the new-energy vehicle (NEV) market and promote NEV sales in rural areas.
Efforts will be made to bolster the large-scale development of the used car market. For used non-commercial light-duty vehicles, restrictions on the cross-regional transfer of those vehicles that meet the national stage V emission standard were lifted nationwide starting from 1 August.
Such measures aim to promote efficient automobile circulation in the market and facilitate the cross-regional operation of related enterprises.
More parking facilities will be built in cities and more battery charging facilities will be added in parking lots, gas stations and expressway service areas, among other spots, to meet NEVs' charging demand, the vice minister noted.
Measures will also be taken to boost the green and low-carbon transition of the auto industry, with efforts to stimulate NEVs consumption and improve the recycling system for scrapped vehicles.
The move to unleash the auto industry's potential is part of China's policies aimed at maintaining economic stability, Sheng said, noting that auto sales play a vital role in boosting consumption and stabilizing economic growth.
Reporting courtesy of ChinaFastener.com
