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Chinese authorities on Friday announced measures to boost sales of automobiles, electronics and home appliances as part of efforts to shore up a sluggish economy.
Regions that currently have auto purchase restrictions in place are encouraged to issue full-year quota as soon as possible, implement differential policies for urban and suburb areas and increase annual quota based on local conditions, said the National Development and Reform Commission (NDRC), the top economic planner, at a press briefing on Friday.
The authority supports replacement of old vehicles and will accelerate cultivating a used-car market, it said.
Local authorities are encouraged to accelerate scrapping passenger vehicles that don’t meet the National III emission standards or lower standards and illegal and non-standard commercial vehicles, push for exits of old vehicles using economic and technical methods, it said.
Local governments are urged to remove restrictions on used-car relocation, facilitate registration of used-cars, encourage public disclosure of non-confidential and non-privacy information of used cars to increase transparency of the used-car market and improve the credit system, the NDRC said.Â
The regulator should increased frequency of inspection of use-car trading platforms, publish the results of the inspections to the public and encourage exports of used car that meet quality requirement, it said.
A separate statement on supporting sales of electronics products said that authorities would encourage scientific research institutes and market entities to actively apply domestic artificial intelligence (AI) technology to improve intelligence levels of electronic products.
In addition, China will continue to promote home appliance sales in rural areas, said the NDRC.
Regions with conditions are encouraged to provide subsidies for sales of green and intelligent home appliance in rural area and replacement of old home appliances and provide differential policy support based on products’ energy and water efficiency, it said.
China will promote clean heating in rural area, increase the level of electrification of energy consumption and the share of renewable energy in rural area, it said.