Off the wire
• Brazil announces investment to modernize prisons  • CEO of Japan's biggest ad company to resign over employee's suicide  • Brazilian construction company profits 4 times more than amount paid in bribes  • Water from south China to reach more Beijingers by 2030  • China's December inflation forecast at 2.3 pct  • 1st LD-Writethru: Chinese yuan weakens to 6.9497 against USD Thursday  • Two dead in Wednesday's terrorist attack in Xinjiang: police  • Cambodia launches action plan to eliminate worst forms of child labor by 2025  • Brazilian police urge to cancel New Year beach party for security concerns  • Yearender: Rio defies the odds to host spectacular 2016 Olympic Games  
You are here: 　 Home

China's car sales growth to slow in 2017

Xinhua, December 29, 2016 Adjust font size:

Automobile sales are expected to slow next year after a boom in 2016, the Ministry of Commerce (MOC) said Thursday.

Growth in auto sales in 2017 could slow to an annual 2 percent to 6 percent, said MOC spokesperson Shen Danyang, citing industry estimates.

About 25 million cars were sold in China in the first 11 months this year, up 14.1 percent year on year thanks to a preferential car purchase taxation policy and other government measures.

Earlier this month, the Ministry of Finance continued its preferential car purchase taxation policy but cut the tax reduction ratio for 2017.

A high comparison base and a discounted preferential taxation policy will drag down auto sales growth next year, Shen said. Endi