China Knowledge cited Mr Yao Jian spokesman of the country Ministry of Commerce said the auto sales under trade in subsidies policy offered by the Chinese government hit CNY 3.5 billion or 78.2% increase in the first quarter of this year.

The Chinese government offered subsidies for 24,000 automobile purchasers in the first three months, the auto sales amount surged 78.2% more than in the fourth quarter of last year.

According to the auto trade-in policy, which started running from June 1st 2009 to May 31st 2010, the Chinese government has been providing subsidies from CNY 5,000 to CNY 18,000 to each auto purchaser, more than the original subsidies which were from CNY 3,000 to 6,000 to each auto purchaser.

(Sourced from China Knowledge)