Shanghai to Subsidize More Environmentally Friendly Cars
SHANGHAI, Jun. 1 – The local government is encouraging more people to replace their cars and trucks with more environment-friendly models by giving average subsidies of RMB5,000 starting today until April 30, 2010.
The measure is part of the city’s efforts to ease pollution and help the local economy for the coming Shanghai 2010 World Expo. By next year, 50,000 old and polluting vehicles should be off the streets because of it. This will decrease vehicle emissions by 8 percentage points and increasing spending on cars by RMB7 billion.
Residents who switch vehicles from at national level I emission standard or below to a vehicle at the national IV standard will be qualified for the subsidy. Moreover, only vehicles registered before the end of 2002 will qualify.
The subsidy will depend on the size of the vehicle and years of use. The amount increases to RMB5,000 if the car was registered between 1999 and 2000 then RMB5,500 if registered between 2001 and 2002.
More details of the measure can be found on the city government’s official website.
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