BEIJING, March 31 (Xinhua) -- China's Ministry of Industry and Information Technology (MIIT) will study policy recommendations for stabilizing and expanding automobile consumption, and urge the local authorities to issue such policies, according to Xin Guobin, vice minister of the MIIT, at a press briefing on Monday.
Meanwhile, the MIIT will coordinate related departments to adjust the policies on the new energy vehicles (NEVs) and further promote the development of the automotive industry, Xin added.
At present, provinces of Guangdong, Shandong, Jilin, Hainan, and cities such as Shenzhen, Ningbo, Hangzhou and Nanchang have introduced some specific policies to stimulate auto consumption, said Xin.
China's automobile industry still faces great difficulties, especially the sluggish consumer demand in general. Although the current resumption rate of work and production is relatively high in the country, due to insufficient market demand, inventories of the automobile enterprises have increased.
Since February 19, the overall operating rate of enterprises in China's automobile industry has increased from about 60 percent to 97 percent, and the rate of employees returning to work has increased from about 50 percent to 82 percent.
China's auto production and sales plunged during the first two months, down 45.8 percent and 42 percent, respectively, year on year, according to data from the China Association of Automobile Manufacturers. (Edited by Hu Pingchao with Xinhua Silk Road, email@example.com)