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CN MOC, MOF etc. Co-issue 'Implementation Rules for Car Trade-in Subsidy'
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China's Ministry of Commerce (MOC), Ministry of Finance (MOF) and five other departments recently co-issued the "Implementation Rules for Vehicle Trade-in Subsidy", which specified the subsidy policy for vehicle replacement funds. The Rules specified the scope and standard of the subsidy. During the period from the date of publication of the Rules to 31 December 2024, individual consumers who scrap internal combustion engines (ICEs) with National Phase III Emission Standards (National III) or below, or new energy vehicles (NEVs) registered before 30 April 2018, and purchase new passenger vehicles that meet the energy-saving requirements, are entitled to a one-off fixed-rate subsidy. Pursuant to which, a subsidy of RMB10,000 is granted to those who scrap the above two types of old passenger vehicles and purchase NEVs that meet the requirements; and a subsidy of RMB7,000 to those who scrap ICEs with emissions standards of National III or below and purchase ICEs with emissions of 2.0 liters or below. AAStocks Financial News |
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