Car subsidy extended
By Rachel Yan |
May 24, 2010, Monday
|
Print Edition
Print Edition
PEOPLE who buy new cars to replace their more-polluting old ones will continue to enjoy the government subsidy in the second half of this year.
The city government has extended the application period for its car purchase subsidy policy, which started last June and was scheduled to end last month, the Shanghai Commerce Commission announced over the weekend.
The policy will expire by the end of this year and applications close in January.
People who scrap their old vehicles are entitled to a rebate - ranging from 3,000 yuan (US$440) to 6,000 yuan according to the type of the vehicle - from the government, when they purchase new cars.
Officials said the policy was meant to encourage people to upgrade to lower-emission vehicles to help improve the city's air quality improvement.
More than 14,000 applications requests have been filed by the end of last month, commission officials said.
The city government has extended the application period for its car purchase subsidy policy, which started last June and was scheduled to end last month, the Shanghai Commerce Commission announced over the weekend.
The policy will expire by the end of this year and applications close in January.
People who scrap their old vehicles are entitled to a rebate - ranging from 3,000 yuan (US$440) to 6,000 yuan according to the type of the vehicle - from the government, when they purchase new cars.
Officials said the policy was meant to encourage people to upgrade to lower-emission vehicles to help improve the city's air quality improvement.
More than 14,000 applications requests have been filed by the end of last month, commission officials said.
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