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China to boost second-hand auto market

By Li Fangfang (chinadaily.com.cn)
Updated: 2009-03-05 11:56

China will try to promote auto consumption by new measures to invigorate the second-hand vehicle and auto leasing markets, said Premier Wen Jiabao in his government work report at parliament session today.

The efforts will concentrate on promoting a healthy consumption pattern in the auto market, which is key to boosting domestic consumption.

The growth in China's auto sales slowed 15.1 percent from a year earlier to 6.7 percent in 2008, the first single-digit increase since 1999. A total of 9.38 million vehicles were sold last year.