Pol­icy change lets e-car buy­ers bor­row more

China Daily - - POLICY REVIEW -

The Peo­ple’s Bank of China and the China Bank­ing Reg­u­la­tory Com­mis­sion in­tro­duced a new loan pol­icy on Wed­nes­day that al­lows buy­ers of new en­ergy ve­hi­cles to bor­row a larger por­tion of the sale price.

Start­ing next week, buy­ers can ob­tain loans up to 85 per­cent of the cost of a “green” ve­hi­cle from a bank. The max­i­mum loan al­lowed for a gas or diesel car is 80 per­cent.

Those look­ing to pur­chase a new en­ergy ve­hi­cle for com­mer­cial use can ob­tain loans up to 70 per­cent of the sale price, com­pared with 75 per- cent for con­ven­tional ve­hi­cles, ac­cord­ing to a joint state­ment.

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