China to Extend Tax Exemptions for New Energy Vehicle Purchases

China will extend a sales-tax exemption for NEVs this year and is looking at new policies to continue support for the sector and stimulate consumer demand.

• Deputy Finance Minister Xu Hongcai announces extension at briefing in Beijing
• At separate briefing, Ministry of Industry and Information Technology official Xin Guobinsays consultations are being held with industry players, research organizations and other stakeholders to formulate new policies
  • Says NEV sales and production growth should be stable this year, judging by performance in January and February
• NOTE: China also had an NEV subsidy policy that ended last year
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