Stimulus Policies have been Introduced across Multiple Regions to Encourage Consumption of NEVs and Trading Area

SHANGHAI, Nov 15 (SMM) - Various regions have intensively introduced new measures to promote consumption approaching the end of the year, such as expanding auto consumption, increasing consumption in trading area and issuing consumer vouchers, in an effort to enhance the ballast effect of consumption on economic growth.

Commodities like NEVs are the focus of consumption promotion.  Guangzhou has issued "Several Policies and Measures to Promote Urban Consumption", which proposes to increase the allocation of energy-saving cars to 80,000 in 2021-2022. Shenzhen proposed to further loosen the application requirements for new energy cars, remove restrictions on social security conditions and other restrictions so as to promote the sales of NEVs. Cui Dongshu, CPCA secretary-general, said that the current shortage of chips was eased. The output of NEVs is expected to register 2.4 million this year, and there may be more relevant stimulus policies early next year.