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Public opinion sought on auto replacement subsidy program
(Xinhua)
Updated: 2009-06-29 15:42 Chinese government has begun to seek public opinion on subsidy program for auto replacement, amid a slew of measures to stimulate private spending and curb pollution.
Vehicles that fail to meet the European No 1 standard for exhaust emissions could also be replaced even they are still within life expectancy. The subsidy will be no more than the purchase tax of the auto of the same type. According to the drafted regulation issued by the National Development and Reform Commission (NDRC), the country's top economic planning body on June 3, consumers would get rebates from 3,000 yuan ($437.96) to 6,000 yuan for auto replacement. Consumers should deliver their old model to the reclaim station in a year through May 31, 2009, said the circular. (For more biz stories, please visit Industries)
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