News from IT House on April 17, the People’s Government of Henan Province issued “Several Policies and Measures to Further Promote Consumption”, extending the car purchase subsidy policy until the end of June 2023, and paying 5% of the purchase price to consumers who buy new cars in the province A subsidy will be given (up to 10,000 yuan per unit), half of which will be subsidized by the provincial and municipal governments, and the specific subsidy standards and methods will be formulated and implemented by each locality based on the actual situation.
IT Home was informed that the “Measures” encourages all localities to reward 0.5% of their used car sales for used car dealers whose annual tax revenue in 2023 exceeds 100 million yuan and whose annual growth rate exceeds 10%. The maximum amount shall not exceed 1 million yuan), and the provincial finance shall provide subsidies according to 20% of the actual fiscal expenditure of each locality.
Encourage all localities to subsidize the consumption of smart electronic products and household electrical appliances or carry out trade-in promotions, and extend the provincial government’s subsidy policy of no more than 30% of the actual fiscal expenditure of each locality until the end of June 2023.
Encourage all localities to issue consumer coupons for retail, catering, cultural tourism, and accommodation, and continue the subsidy policy that the provincial finance will not exceed 30% of the actual financial expenditure of the provincial cities (Jiyuan Demonstration Zone, Airport Zone) until the end of June 2023 .