Scrap-and-Replace Subsidy Hits ¥20,000: 2026 Auto Policy Details Released
China's Ministry of Commerce and 7 other departments issued the 2026 Vehicle Trade-In Subsidy Implementation Rules, setting maximum subsidies of ¥20,000 for NEV scrap-and-replace and ¥15,000 for ICE vehicles. Replacement subsidies cap at ¥15,000 for NEVs and ¥13,000 for ICE models. Funding comes from ultra-long-term special treasury bonds with central-local cost sharing.
3383 hours ago
