SHANGHAI -- China is rushing to tamp down fears of an abrupt end to its 300 billion yuan ($41.7 billion) subsidy program now that several cities have suspended or downsized their plans earlier than anticipated.
Economy
China races to calm worries over end to $42bn consumer subsidies
Some cities suspend programs earlier than expected
China introduced subsidies last year to encourage consumers to trade in old cars and appliances for new ones. But some cities are suspending or adjusting implementation of the program. © Reuters
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