Fujian Province Introduces Incentive and Subsidy Policies to Boost Automobile Consumption
In an effort to stimulate automobile consumption and boost the local economy, Fujian Province has introduced new incentive and subsidy policies this year. According to the Fujian Provincial Department of Finance, these policies aim to encourage consumers to purchase cars through subsidies and promotional activities.
The provincial finance department has allocated 30 million yuan in the first quarter to provide subsidies for various localities to carry out automobile consumption promotion activities. Fuzhou City has also partnered with key car companies to implement a subsidy replacement policy, increasing car purchase subsidies to attract more buyers.
One of the promotional activities launched is the “Fujian Tesco·Cars Going to the Rural Areas” campaign in Zhangzhou Yunxiao. This initiative provides subsidies to vehicles purchased from local automobile dealership companies in Yunxiao County and registered in the Zhangzhou area.
To streamline the process and improve efficiency, Zhangzhou, Sanming, and other places are utilizing the Cloud QuickPass App platform for application and review of car purchase subsidies. Subsidies are then distributed based on the ranking determined by the application and review process.
As a result of these initiatives, from January to February this year, the province’s retail sales of automobile products by units above designated size increased by 9.1% year-on-year. This growth rate is 2.7 percentage points higher than the province’s zero growth rate, indicating a positive impact from the incentive and subsidy policies.
(Source: Financial Associated Press)