Beijing may issue automobile consumption incentive policy soon

---

The spreading rumors about Beijing’s cancelation of the auto consumption restrictive policy recently are not groundless as previously reported. A source revealed that a small industry symposia, arranged by China’s cabinet the State Council and present with the officials from the Ministry of Industry and Information Technology, National Development and Reform Commission and China Association of Automobile Manufacturers, was held over a week ago.

The theme of the symposia is about the future development of China’s auto industry. It’s likely that Beijing will not cancel its auto consumption restrictive policy in a short term, but the government won’t encourage other cities to copy Beijing’s restrictive measures, revealed the source.

The stimulus policy was another major topic at the symposia. The government will issue another incentive policy recently to offset the impact brought by the restrictive policy, said the source. The hotly-debated higher subsidy for trading in old and below-emission-standard vehicles is one of the most possible policies that will get the central government rubber stamp.