In a draft of its 2012 regulations for alternative fuel vehicles, the Chinese government will exempt plug-in vehicles from annual taxes in starting in 2012, according to China Daily. Furthermore, China Daily says that conventional hybrids, while not exempt from annual taxes, will be eligible for a 50 percent reduction.
These new benefits are on top of some already huge subsidies. In June of 2010, China began offering a maximum subsidy of 60,000 yuan ($9,281 U.S. at the current exchange rate) to buyers of pure electric vehicles and 50,000 yuan ($7,634 U.S.) for plug-in hybrid purchases. Kind of makes you jealous, doesn't it?