Chinese policymakers have put out new measures to boost the insurance and new energy car industries as the State Council wrapped up its meeting on Wednesday.
Insurance companies will have wider access to pension plans, disaster relief, and public services. Meanwhile, the government will improve industry standards and beef up reinsurance practices and new products. Officials hope to use insurance services to level the agriculture and infrastructure sectors in China. On a separate note, green cars will now enjoy tax breaks. China will stop taxing certain models of green cars from September 1st through the end of 2017. The tax break covers electric and fuel-cell powered cars and some hybrid vehicles. The central government has been advocating green energy to help battle pervasive air pollution in China.