China Cuts Taxes on Cleaner Transport
China will halve the taxes on energy-saving vehicles and vessels and stop levying vehicles and vessels powered by new energy, the Ministry of Finance said. Those manufacturing or importing such transport tools can apply with the ministry for the tax breaks. The Ministry of Finance and the Ministry of Industry and Information Technology will irregularly update the list of environmentally friendly vehicles and vessels in the future.

Passenger Car Sales Up 22% in Feb
Passenger car sales in China rose 22.3% year on year to 1.09 million units in February, according to the China Passenger Car Association.

Auto Exports to Top 1m
China will export more than one million vehicles annually in one or two years, according to Miao Wei, Minister of Industry and Information Technology. The nation exported around 824,000 vehicles last year, up 50% from 2010.

$1 = ¥6.32

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