Scrappage scheme

The Chinese government released its budget for cars trade-in subsidies. New vehicles, that satisfy the set emissions requirement, would be eligible for subsidies.    

One-time fixed amount of subsidy of between 7,000 - 10,000 yuan would be made available to consumers who scrap fuel passenger cars with emission standards of National III or below or passenger cars registered before April 30, 2018 and purchase new energy passenger cars or fuel passenger cars that are included in the "Catalogue of New Energy Vehicle Models for Vehicle Purchase Tax Reduction and Exemption". 

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