China’s State Council extends subsidies and tax breaks for new-energy vehicle purchases

Dhwani Mehta FXStreet

Late Tuesday, China’s State Council (Cabinet) announced the extensions of the subsidies and tax breaks for new-energy vehicle purchases.

The Council extended subsidies and tax breaks by two years, out to 2022.

These measures were announced to support the producers of electric vehicles in China, as the economy fights hard to curtail the coronavirus impact on the economy.

USD/CNH Price Analysis: Impending golden cross could yield flag breakout

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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