March 24, 2020 / 7:13 AM / 15 days ago

Beijing city weighs plans to stimulate autos demand due to coronavirus - report

BEIJING/SHANGHAI, March 24 (Reuters) - China’s capital city Beijing is considering plans to stimulate demand for automobiles after the coronavirus epidemic hit sales badly, the state backed Beijing News newspaper reported on Tuesday.

It said possible measures being considered by Beijing include introducing incentives to trade in old cars for new, approving no fewer than 100,000 licenses to new energy vehicle buyers in the first half of 2020 and launching special plate licenses for suburban areas, the newspaper said, citing a statement from China’s commerce ministry. (Reporting by Brenda Goh and Zoey Zhang; Editing by Muralikumar Anantharaman)

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