The southern megacities of Guangzhou and Shenzhen will ease up on car ownership restrictions in a bid to boost China’s flagging auto sales — one of the country’s important economic drivers.
Both cities are planning to increase the quota of new license plates given out each month, a policy that has traditionally been used to help control congestion and pollution by limiting the number of cars on the road, according to the state-owned Southern Daily (link in Chinese).
...The move comes just a month after the National Development and Reform Commission (NDRC), China’s state planner, issued a broader policy calling for all cities that limit license plates to increase their quotas. It specifically said all such cities should issue 50% more license plates in 2019 compared with this year’s levels, and 100% more in 2020.
Macro Morning
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Anxiety and fear over what could or could not happen at last night’s FOMC
meeting was met with relief as the Fed didn’t really change signalling on
its i...
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