China Automobile Manufacturers Association: Consumption Stimulus Policy Should Be Extended to Next Year

Forex - The China Automobile Manufacturers Association has called on the government to extend the trade-in options for old vehicles as part of measures to stimulate domestic car sales. Chen Shihua, an official from the China Automobile Manufacturers Association, stated that the Ministry of Commerce is working on whether to extend the vehicle trade-in policy, which offers a substantial subsidy payment of up to 20,000 yuan for the next year, but no decision has been made yet. Chen emphasized, "We continue to call for the related consumer incentive policy to be extended for next year," adding that an early decision would help mitigate fluctuations in demand in the automotive market.