Gasgoo.com (Shanghai January 4) - The Chinese government is currently in the process of designing new economic policies aimed at stimulating demand for automobiles and consumer electronics, the China Daily reported today. With previous economic stimulus policies on the brink of being or already phased out, the government has already begun discussions on new replacements, former Ministry of Commerce Assistant Minister and Member of the Ministry's Advisory Committee on International Economic Policy Huang Hai said in an interview.

"The Ministry of Commerce has already prepared draft legislation and will continue to introduce new economic stimulus policies in the upcoming years," Mr. Huang said. He added that the new policies will be implemented in a different way than those in previous years.

According to Mr. Huang, the Ministry of Commerce, National Development and Reform Commission, Ministry of Finance and over ten other government agencies will hold a summit around April discussing how to help increase consumer demand.

Some reports speculate that the new policies will offer subsidies for first-time and returning buyers of automobiles and consumer electronics.

According to a statement made by Spokesman Shen Danyang, the Ministry will officially announced details regarding the new policies next week.