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Beijing introduces tax incentives for cars with larger engines

China will cut the sales tax on certain low-emission cars by half to five percent. With this, the central government wants to increase consumption after the long lockdown in Shanghai. Due to the two-month lockdown in Shanghai, car sales in the metropolis slumped by more than 30 percent year-on-year in the first quarter, according to the Shanghai Automobile Sales Trade Association (SASTA).

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