State Council aims to boost car sales
(WorldNews China)

The State Council has unveiled a raft of measures to revive slumping car sales amid the novel coronavirus pneumonia pandemic, as industry analysts call for more aid for carmakers badly bruised by weak demand. The Cabinet announced after its executive meeting on March 31 that it will extend tax breaks and subsidies on electric-vehicle purchases by two years to boost the sluggish market. The extension will enable buyers to enjoy a subsidy of up to 25,000 yuan ($3,525) per vehicle and exemption from a 10 percent purchase tax. The meeting also decided to reduce the value-added tax on the sale of used vehicles by special dealers to 0.5 percent, down from 2 percent, from next month to the end of...