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CHINA PRESS: Shanghai Increases Consumer Subsides To Record High

CHINA PRESS

The Shanghai city government will arrange more than CNY4 billion in funds from its fiscal budget and ultra-long-term special treasury bonds for the trade-in of automobiles and green home appliances to revive the consumer market, Yicai.com reported. With the scale of consumer subsidies hitting a record high, Shanghai increased subsidies of electric and fuel vehicle trade-ins to CNY15,000 and CNY12,000 for each consumer, said Yicai.

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