China's Ministry of Finance, State Administration of Taxation, and Ministry of Industry and Information Technology have jointly issued Announcement No. 19 of 2026 on the Vehicle and Vessel Tax reduction and exemption for energy-saving and new energy vehicles. The tax is payable annually by owners of vehicles in China. Previously, the tax was reduced by 50% for energy-saving (fuel-efficient) vehicles, including non-plug-in-hybrids and dual fuel vehicles, while a full exemption from the tax wa…