Update: China to cancel vehicle and vessel tax preferential policy for energy-saving vehicles, NEVs

BEIJING, July 3 (Xinhua) -- Chinese authorities announced Friday that starting from January 1, 2027, the country will cancel the policies of halving the vehicle and vessel tax for energy-saving vehicles and exempting certain new energy vehicles (NEVs), including pure electric commercial vehicles, plug-in hybrid electric vehicles, and fuel cell commercial vehicles from the tax. With the adjustment, taxpayers who h