June 24, 2024 09:57 GMT
MNI BRIEF: China Urges Removal Of Car Buying Restrictions
MNI (BEIJING)
MNI (Beijing)
Beijing will encourage cities to relax vehicle purchase restrictions and quotas in efforts to boost consumption, a notice on the National Development and Reform Commission website said on Monday.
Targeting increased domestic spending, the NDRC said central and local government finances would be linked to promote the scrapping and renewal of old cars, whilst shopping retailers will receive support to hold silver hair retail promotions.
A policy advisor recently told MNI overall weak demand will limit CPI from rising above 1% this year. (See: MNI: Pork Prices To Push China CPI To About 1% In H2 - Advisors)
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