Beijing, June 3 (IANS) China will reduce prices of small-engine vehicles and other energy-efficient motors to promote their sales in the country, aiming to cut carbon emissions.
Buyers of vehicles with engines smaller than 1.6 liter will get a 3,000 yuan subsidy, the National Development and Reform Commission said in a statement Thursday.
The subsidies could boost small-engine vehicle sales in China by more than 4 million units by 2012, reducing oil consumption by 750 million liters and carbon dioxide emissions by 3.3 million tonne, Xinhua reported quoting the statement.
Currently, China levies a 7.5 percent tax on purchase of small-engine vehicles, lower than the 10 percent tax for vehicles with bigger engines.
