China halves sales tax on some new cars in bid to stimulate spending, economic growth

The Chinese authorities are halving purchase taxes on some passenger cars from Wednesday June 1 to try and stimulate consumer spending, the Finance Ministry said on May 31.

The tax reduction, from 10% to 5% of the purchase price, will apply for to cars with no more than nine seats, inclusive of the driver, with an original price...

Published

Norman Fong

May 31, 2022

12:40 GMT