China Loosens Car-Purchase Restrictions to Boost Consumption
- State Council explores ways of loosening curbs on cars
- Move could provide relief for industry facing extended slump
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China rolled out a series of guidelines to encourage consumption, led by support for the flagging auto market.
The measures include exploring ways to gradually loosen or remove car-purchase limits and support new-energy vehicle purchases in some areas, the State Council, or cabinet, said on its website on Tuesday. Other steps include incentives to build more gas stations in rural areas and removing hurdles to invest in fuel wholesale and storage businesses.