16 measures to spur Wuhan's market vitality

A car-purchasing promotional activity is held in the Wuhan Economic & Technological Development Zone. [Photo provided to en.whkfq.gov.cn]

In February, Wuhan released 16 measures to stimulate the vitality of local market players.

These measures said that in 2023, Wuhan will continue to exempt new energy vehicles (NEVs) meeting certain standards from the purchase tax, and help the Wuhan Economic & Technological Development Zone (WEDZ) and Jiangxia district to conduct car-purchasing activities until the end of March this year.

During the recent Lantern Festival, WEDZ launched its first automobile promotional activity for 2023, with seven local car brands, including Dongfeng Nissan, Dongfeng Honda, and Lotus, introducing the advantages, functions and selling points of each of their production models, attracting 310,000 online and onsite visits.

Since 2022, when WEDZ rolled out its 10 policies for car buyers, 15,588 residents have benefited from the policies and have received over 57 million yuan ($8.41 million) in subsidies.