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Shanghai Moves To Speed Return To Work, Boost Spending

CHINA PRESS
MNI (Singapore)

Shanghai will scrap unreasonable restrictions to accelerate the resumption of work and production and promote consumption and investment after a two-month lockdown to curb the spread of Covid-19, Xinhua News Agency reported citing a statement on the municipal gov website on Sunday. Among the latest 50 measures to reignite growth, the city will issue 40,000 new vehicle licenses, reduce the purchase tax on some vehicles, and subsidise car buyers of electric vehicles, the statement said. It will also launch over eight shantytown renovation projects, and expand corporate bond issuance to fund infrastructure construction.

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