Shanghai Extends Free NEV License Quota Policy to 2025, Boosts Consumption Stimulus Measures

[Shanghai: Extension of the Free Application Policy for NEV License Quotas Until the End of 2025]

At the press briefing on policy measures to promote sustained economic rebound and improvement in Shanghai held on February 13, it was revealed that Shanghai will focus on stimulating potential consumption, intensify the implementation of trade-in policies for consumer goods, enhance and expand service consumption, and attract external consumption through the integration of culture, tourism, commerce, sports, and exhibitions. Regarding trade-in policies, in line with national directives, Shanghai will expand the subsidy scope for consumer goods trade-in from 8 categories to 15 categories, including digital products and home appliances, and increase funding. Meanwhile, the city will fully implement the new round of national and Shanghai automobile trade-in subsidy policies, extend the free application policy for NEV license quotas until the end of 2025, and vigorously promote automobile renewal consumption.