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December 30, 2016

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Home » Business » Auto

Auto sales growth to slow next year

AUTO sales in China are likely to slow next year after a boom in 2016, the Ministry of Commerce said yesterday.

Growth in auto sales in 2017 could slow to an annual 2-6 percent, spokesman Shen Danyang said, citing industry estimates.

About 25 million cars were sold in China in the first 11 months of this year, up 14.1 percent year on year, due to a preferential car purchase taxation policy and other government measures.

Earlier this month, the Ministry of Finance continued its preferential car purchase taxation policy but cut the tax reduction ratio for 2017.

A high comparison base and a discounted preferential tax policy will slow auto sales growth next year, Shen said.


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