A Lamborghini Huracan Performante at the Shanghai auto show. A Lamborghini typically costs more than twice as much in China as it does in Canada, helping spur a massive grey market for such luxury vehicles. Photo: Simon Song
Chinese cash fuels vast luxury car money-laundering scheme in Canada, involving thousands of fake buyers
- Report finds explosion in Canadian grey market worth US$410 million last year
- More than 4,000 fake buyers help China’s wealthy dodge sales taxes
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China Society
A Lamborghini Huracan Performante at the Shanghai auto show. A Lamborghini typically costs more than twice as much in China as it does in Canada, helping spur a massive grey market for such luxury vehicles. Photo: Simon Song
China’s options include additional cuts in taxes and fees, incentives for buying big ticket items like appliances and cars, and a further lowering of interest rates to boost lending to the real economy, particularly for small firms that will be hit hardest by increased trade tensions. Photo: Bloomberg
China may expand stimulus in response to potential US trade war tariff hike, analysts say
- More tax cuts, incentives for appliance and car purchases, lower borrowing rates among stimulus options for China’s government
- US President Donald Trump tweeted plans to increase tariffs on Chinese goods, leading to expectation of more stimulus from Beijing
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China economy
China’s options include additional cuts in taxes and fees, incentives for buying big ticket items like appliances and cars, and a further lowering of interest rates to boost lending to the real economy, particularly for small firms that will be hit hardest by increased trade tensions. Photo: Bloomberg