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China unveils support package to auto, steel industries (01/14/09)


BEIJING, Jan. 14 (Xinhua) -- China's State Council unveiled a support package for the auto and steel sectors Wednesday to boost the two "pillar industries."

Under the plan, the government will lower the purchase tax on cars under 1.6 liters from 10 percent to 5 percent from Jan. 20 to Dec. 31 in a bid to stimulate sales.


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