November 15, 2018 / 3:30 AM / a month ago

China state planner says has not proposed vehicle purchase tax cut

BEIJING, Nov 15 (Reuters) - China’s state planner said on Thursday it has not considered nor has it proposed a 50 percent vehicle purchase tax reduction as reported by some media outlets recently.

The comments were made by Meng Wei, spokeswoman for the National Development and Reform Commission(NDRC) in a press conference in Beijing.

Bloomberg reported late last month that China’s top economic planning body is proposing to cut the tax levied on car purchases by half, as the impact of an escalating trade war with the United States threatens to slow the Chinese economy and affect demand for vehicles. (Reporting by Beijing Monitoring Desk Editing by Shri Navaratnam)

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