Forex
globalreutersJune 12, 20241 Mins read
China’s vehicle sales recovered in May, government subsidies cited as helping
globalreutersJune 12, 20241 Mins read China Passenger Car Association (CPCA) May data:
- vehicle sales +11% m/m (prior -9.4%)
- but -1.9% y/y (prior -5.7%)
Reasons for the m/m climb cited Government subsidies for replacing old cars with new ones:
- 7,000 yuan for updating fuel cars
- 10,000 yuan for new energy vehicles (NEVs)
Much more detail here if you are interested.
Old pic, China is heating up for summer
This article was written by Eamonn Sheridan at www.forexlive.com.
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