China Auto Subsidies for Rural Cosumers

2009-03-16 Source：internet

Chinese government has detailed a stimulus plan to encourage farmers to buy automobiles, which may bring an auto sales surge in rural areas, experts said Sunday.

Following an announcement in January that the central government would float 5 billion yuan to subsidize rural residents who buy automobiles, the Ministry of Finance announced Friday the subsidies would be 10 percent and 13 percent, respectively, for those who purchase automobiles and motorcycles.

Farmers who buy light trucks and minivans from March 1 to Dec. 31, would get a 10 percent discount, with the ceiling subsidies of 5,000 yuan.

Subsidies of 2,000 and 3,000 yuan can be use to replace old three-wheeled and four-wheeled vehicles respectively.

From this Feb. 1 to Jan. 31 in 2013, farmers who buy motorcycles would get 13 percent of the purchase price back, with ceiling subsidies of 650 yuan.

Every rural household may purchase two motorcycles at most.

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