The Ministry of Commerce announced on June 9 that the Ministry of Finance and the Ministry of Commerce recently jointly issued an announcement, clarifying the scope, conditions and standards of financial subsidies for the scrapping and renewal of old cars in 2011, and raising the financial subsidy standards for the scrapping and renewal of some old cars.

The announcement first clarified that financial subsidies will continue to be given to urban buses, rural passenger vehicles and heavy-duty trucks that meet certain conditions and are scrapped and ***d ahead of schedule, and appropriately extended the service life of subsidized vehicles, adjusting the service life of subsidized vehicles such as urban buses, rural passenger vehicles, and heavy-duty trucks from 7 to 9 years, 4 to 8 years, and 7 to 9 years to more than 8 years (including 8 years), more than 6 years (including 6 years), more than 10 years (including 10 years) and less than 15 years. At the same time, in order to enhance the attractiveness of the subsidy policy, the subsidy standards for urban buses, rural passenger vehicles, and heavy-duty trucks were increased from 15,000 yuan, 10,000 yuan, and 5,000 yuan to 18,000 yuan, 11,000 yuan, and 18,000 yuan, respectively, with reference to the subsidy standards for old-for-new vehicles.