The economy of China may slow against the background of the strengthening of the trade war with the United States. To support economic growth and demand for cars, the Chinese government department proposed halving the tax on car purchases, Bloomberg reported, recalling that the Chinese Automobile Dealers Association had previously appealed to the Chinese Ministry of Finance with the same proposal. This news led to an increase in price of General Motors, Volkswagen, BMW and Daimler shares. It is noted that after reducing this tax three years ago, car sales in China increased significantly.
China cuts benchmark lending rate to support virus-hit economy20.02.2020
S&P and Nasdaq close on record gains amid hopes on new China stimulus17.02.2020
Asian shares inch up to three-week highs on China’s support measures14.02.2020
Honda to resume auto production in China plants on February 21