Shanghai releases subsidy policy for vehicle owners

The Shanghai government released a new policy about providing subsidies for car buyers Monday. They can benefit in having dual subsidies due to a local policy carried out in June.

The subsidy is only provided for owners of minivans which are driven for less than eight years, light- or medium-duty vehicles and medium-sized passenger carrying vehicles (taxi cars are not included) which have been driven for less than 12 years. Vehicles which are not qualified for the Chinese discharge standard are also on the subsidy list.

From June 1 this year to May 31, 2010, if vehicle owners send their vehicles to the Shanghai Motor Vehicles Recycling Service Centre and buy a new car in Shanghai, they will get 3,000 yuan to 6,000 yuan in subsidies.

Benefits from another policy which were released in Shanghai this June led to auto sellers seeing a direct 76 million yuan sales increase.

A person with the Shanghai Municipal Commission of Commerce said vehicle owners can apply for both subsidies and get dual benefits.

Agencies and Shi Jierui contributed to this story

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