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(chinadaily.com.cn) Updated: 2016-05-11 06:54New tax cut for buyers of small cars pays off
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Promotional slogans are seen besides a car in Guangzhou, Oct 2, 2015. [Liu Jiao / For China Daily] |
The central government last October began cutting taxes on new small passenger cars as an interim measure to boost sales.
According to the policy, purchase taxes will be halved for buyers of new passenger cars with an engine size of 1.6 liters or smaller. The policy, which is to expire at the end of the year, has paid off－the market has grown slightly faster since the fourth quarter of last year, especially in small cars.
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