China releases detailed rules on vehicle trade-in subsidies

The Ministry of Commerce, the Ministry of Finance and seven other departments jointly issued the "Implementation Rules for the Subsidy for Old Cars for New Cars". The rules stipulate that within a specific period of time, if you scrap a fuel passenger car with a national emission standard of III or below or a new energy passenger car registered before April 30, 2018, and buy a new energy passenger car that meets the conditions, you will receive a subsidy of 10,000 yuan; if you scrap a fuel passenger car with a national emission standard of III or below and buy a fuel passenger car with a displacement of 2.0 liters or less, you will receive a subsidy of 7,000 yuan.