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China is on the verge of extending a tax rebate on purchases of new-energy vehicles or NEV for short until the end of 2020. It’s going to be a boost for electric and hybrid car makers amid a shift by policy-makers away from the conventional internal combustion powerplant.
As the finance ministry told on Wednesday the tax exemption that was set to expire at the end of 2017, is going to run from January 1, next year until December 31, 2020 for plug-in petrol-electric hybrid, electric as well as fuel-cell powered cars.
The extension emerged as Chinese car makers brace to meet severe NEV quotas starting in 2019, which are sparking a flurry of electric vehicle deals as well as new launches of electric and also hybrid models.
China's car market, which is the world's largest one, has slowed steeply in 2017, although new-energy vehicles have appeared to be a bright spot – their sales managed to leap 51.4% in this Asia country.
In December, a major measure of American producer prices suddenly slumped and the overall gauge went down more than predicted in the face of lower crude prices, indicating that potential inflation pressures in the American economy are still there…
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
In November, euro zone industrial output reported its greatest dive for almost three years, as follows from data uncovered on Monday…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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