Freight firms offered 0% finance

Transport firms in Beijing that take out bank loans to finance the purchase of low-emission vehicles can apply for subsidies from the municipal government to cover their interest payments, a senior official said at a press conference yesterday.

Chen Nan, head of the economic construction section of the municipal finance bureau, said the firms will be able to claim up to two years' worth of interest if they buy their "green" vehicles between Jan 1 and June 30; 18 months' interest if they buy between July 1 and Sept 30; and a year's interest if they buy between Oct 1 and Dec 31.

"The earlier the firms buy the vehicles, the more interest they can get back," she said.