Auto execs submit proposals on vehicle safety and chips to two sessions

Xu said that China's automobile market has great potential. Tap into the potential, China should encourage local governments to promote automobile consumption and use. Xu, in collaboration with China Machinery Industry Federation, proposed that the automobile consumption tax and the vehicle purchase tax should be reformed. He proposed the purchase and consumption taxes collected should be shared by the central and local governments, so that local governments can increase their expenditure on building and renovating parking facilities, which will in turn help promote the sustainable development of the automobile industry.