Beijing plan calls for stronger new-energy vehicle promotion and used-car trade
In short
Beijing's government issued a 15th Five-Year Plan-period consumption strategy calling for greater promotion of new-energy vehicles. It also seeks easier used-car transactions and development of repair, insurance and other automotive services, Chinese outlets reported.
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Beijing's government has issued a plan for deepening its development as an international consumption centre during the 15th Five-Year Plan period, CLS, 36Kr and Jiemian reported on October 10. The automotive measures call for stronger promotion of new-energy vehicles, a better used-car circulation system and more convenient transactions, with trading markets becoming more standardised and larger in scale. The plan also seeks improved repair and insurance services, orderly development of vehicle modification, rental, motorsport and recreational-vehicle camping, and faster progress on automotive circulation and consumption reform pilots to develop new sources of consumption growth. [ 1 , 2 , 4 ]
Why it matters
The plan aims to develop new sources of automotive consumption growth. It extends beyond vehicle sales to modification, rental, motorsport and recreational-vehicle camping.
Key facts
- Beijing's government issued a plan to deepen its development as an international consumption centre during the 15th Five-Year Plan period. [ 1 , 2 , 4 ]
- The plan calls for increased promotion of new-energy vehicles and improvements in used-car circulation and trading. [ 1 , 2 , 4 ]
- It seeks better repair and insurance services and orderly development of modification, rental, motorsport and RV camping consumption. [ 1 , 2 , 4 ]
Confirmed by several sources
Still unclear
- The specific implementation measures and timetable. The summaries outline the plan's priorities but provide no detailed incentives, budgets or dates.
What local media are saying
Timeline, local time
- CLS reported Beijing's consumption plan and automotive priorities on October 10. [ 1 ]