China will extend subsidies to buyers of fuel-efficient cars next year but will no longer provide handouts to farmers who trade in fuel-guzzling models for new ones, according to a statement from the Ministry of Finance. The government will continue to promote fuel-saving and green vehicles through financial subsidies, the ministry said on its website. Major mini-vehicle makers, such as Chongqing Changan Automobile Co Ltd and GM-SAIC-Wuling, will be affected by the latest policy shift as mini-vans and pickup trucks are popular in rural areas, industry observers said.
Source:China Daily
Source:China Daily
