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China may issue new policies to stimulate car demand, says vice industry minister

30 March 2020 - 08:12 By Reuters
Nissan vehicles stand at a car dealership in Shanghai, China.
Nissan vehicles stand at a car dealership in Shanghai, China.
Image: Qilai Shen/Bloomberg via Getty Images

China may issue new policies to stimulate demand for motorcars, with the country's car industry still facing difficulties, Xin Guobin, vice minister of industry and information technology, said on Monday.

There is still not enough demand for cars, Xin told reporters, as the outbreak of the coronavirus has dramatically cut private consumption.

Cars account for a big portion of China's overall industrial production, and are the main driver of the country's retail sales.

China is also working to help its car spare parts manufacturers resolve cash flow problems, Xin said.

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