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Economy

China leans on auto subsidies to jump-start post-virus economy

Ownership caps will be eased as car sales plunge in first quarter

Car dealerships in Beijing, seen here in a Feb. 27 photo, and the broader industry have been hit hard by the outbreak, with China's auto sales in the first two months of the year dropping 37%.   © Reuters

BEIJING -- After declaring victory on stemming the coronavirus outbreak, China aims to stimulate depressed consumption with subsidies for auto purchases and looser caps on car ownership.

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