AsianFin -- As part of broader efforts to stimulate domestic demand, China has called on cities to further refine their automobile quota systems to better accommodate households without cars of their own, following a series of favorable policies rolled out across the world's largest auto market.
The country on March 16 made public a plan on special initiatives to increase consumption. This plan, issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, calls for shifting auto consumption policies from "purchased-based controls" to "usage-based regulation" and ensuring car ownership eligibility for families that have been unsuccessful after long waits as part of the car lottery system.
Metropolises in China, including Beijing, Shanghai and Guangzhou, have long placed ceilings on car purchases by adopting car lottery systems to combat traffic jams and air pollution, while in recent years, local governments in these and other cities have been introducing new policies to meet increasing demand and raise the quota of new energy vehicles (NEVs) in the car license quota allocation process.
In January this year, Beijing's transport authorities announced that 100,000 passenger car license quotas would be allocated in the Chinese capital in 2025 -- 80,000 of which will be for NEVs.
(Source: Xinhua)
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