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China forbids local govts from imposing new curbs on car purchases

BEIJING, June 6 – China said on Thursday it is stopping local governments from imposing new restrictions on car purchases, as it looks to spur consumption amid a slowing economy.

The National Development and Reform Commission said in a statement on its website that local governments would also be stopped from putting restrictions on new energy vehicle purchases and existing ones would be cancelled.

The statement, which applies to the 2019-2020 time period, also said support would be rolled out to encourage car purchases in the country’s rural areas. (Reporting by Yilei Sun and Brenda Goh; Editing by Muralikumar Anantharaman)

Categories:   Wires

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