New Policy for Auto Replacement to Extend the End of This Yearc

The implementation of the new policy for auto replacement has not only boosted the auto consumption but more importantly, sped up the process of the elimination of high-emission, high-pollution yellow sticker vehicles as well as old vehicles. Up to May 31, 2010, China had totally handled the applications of 127,000 units of auto replacement, with the subsidy of RMB1.7b, and accordingly driving the consumption of new vehicles to be RMB15b.