BEIJING: China has renewed its policy support for the new energy vehicle (NEV) sector, a move that experts believe would further fuel an industry that is already on the fast lane.
Days ahead of its celebration of National Day, usually seen as a peak shopping season, China announced that the purchase-tax exemption for NEVs would be extended until the end of 2023. This extension is the first since the country first implemented the policy in 2014.
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