China will continue to stabilize and expand the consumption of automobiles in the country, according to measures released by the National Development and Reform Commission (NDRC) on Friday.
The measures were also mapped out to optimize the purchase, use and management of automobiles, as well as the automobile market, and to promote the sustainable development of the new energy vehicle (NEV) industry.
Cities with automobile purchase restrictions are encouraged to increase their annual quotas, and the scrapping of vehicles not up to emissions standards will be accelerated, the commission said.
The measures will also encourage trade-ins and the exit of obsolete cars, and facilitate the trading and registration of used vehicles.
More pilot projects will be implemented in the utility vehicle sector, and more charging infrastructure will be built at bus stations.
Increased credit support, such as insurance for charging piles, will be provided, and parking issues will be resolved through the expansion of parking lots and the regulation of fees, per the measures.
The NDRC said that more efforts will be invested in lowering the costs of the purchase and use of NEVs, such as adjustments to NEV-related electricity prices.
To unleash domestic consumption potential further, China has extended its preferential purchase tax policy for NEVs to the end of 2027.
