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Adds particulars, quotes
BEIJING, April 2 (Reuters) – China’s commerce ministry will loosen up or take away restrictions on automobile purchases in some areas to assist gross sales of recent autos, whereas accelerating plans to spice up the scrapping of outdated ones.
Wang Bin, the deputy head of the ministry’s consumption promotion division, mentioned the ministry will proceed to assist “notice the consumption potential” on this planet’s largest auto market, throughout a weekly briefing held on-line on Thursday.
China’s auto trade suffered a 79% drop in gross sales in February and expects a fall of round 10% within the first half of this 12 months.
Whereas the coronavirus outbreak has been largely contained at residence, Liu Changyu, one other senior commerce ministry official, mentioned, its unfold abroad will inevitably influence China’s auto commerce and its provide chain.
The ministry will subsequently information Chinese language automakers to develop orders from abroad suppliers, replenish on stock and make different plans, Liu mentioned.
(Reporting by Yawen Chen, Yilei Solar and Se Younger Lee; Modifying by Alex Richardson and Alexander Smith)
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