China to Reduce Car Purchase Restrictions to Stoke Demand, Govt Says

China's central government is seeking to raise domestic consumption by asking local authorities to reduce limits on car purchases, increase the release of license plates and subsidize the replacement of old cars, according to a readout from the State Council executive meeting on Wednesday. The State Council is also seeking to incentivize the replacement of home appliances and furniture with environmentally friendly new ones, The statement also said the government is calling for the development of "Internet + Tourism" to expand the tourism market, including building smart tourist attractions and encouraging scenic spots to increase their online marketing efforts. The government is also urging officials to deepen reform and speed up the implementation of the Regional Comprehensive Economic Partnership.