China’s top economic planning body is proposing to halve the tax on car purchases to 5 per cent. Photo: Xinhua

China mulls 50 per cent cut in tax on car purchases to revive flagging market

  • Carmaker shares surge on possible policy change that would stimulate market amid escalating trade war
  • China car sales set to drop this year for first time in two decades
Topic |   China economy

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China’s top economic planning body is proposing to halve the tax on car purchases to 5 per cent. Photo: Xinhua
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