I expect EV sales to surge in H2 if below meeting agenda follows through.
Pledging SupportThe speech and Xi-led meeting added to pledges this week from Chinese leaders to support the Covid-battered economy.
At a regular State Council meeting Wednesday, Premier Li Keqiang urged authorities to roll out as many policies as possible to boost consumption, saying it’s an important driving force to get the economy back on track. He announced a slew of measures, including possibly extending the tax exemption on new energy car purchases and promoting the used car market. The move is expected to drive China’s automobile and related consumption up by about 200 billion yuan ($30 billion), according to a Xinhua statement.
Good News & Bad News, page-12020
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