News Snapshot:
China is to relieve car buyers of vehicle purchase taxes to the tune of 60 billion yuan ($9 billion), which analysts said will be a great boost to the COVID-hit domestic car market. The State Council, China's Cabinet, announced the decision on Monday as part of a package of measures to stabilize economic performance, but has yet to release details such as when it will take effect and what vehicles will be covered. The relief package will account for roughly 17 percent of vehicle purchase taxes levied in 2021, according to Ping An Securities. Carmakers including Dongfeng Peugeot Citroen Automotive...
