New ef­fort placed on de­vel­op­ing new en­ergy ve­hi­cle

China Daily (Canada) - - NEWS CAPSULE -

China is to start a new, in­ten­si­fied phase of de­vel­op­ing the new en­ergy ve­hi­cle sec­tor af­ter the gov­ern­ment ex­posed and pun­ished dis­hon­est sub­si­dized man­u­fac­tur­ers in a bid to clean up the chaotic sec­tor.

The Min­istry of Fi­nance on Sept 8 made pub­lic five swindlers who il­le­gally ob­tained $151.25 mil­lion in sub­si­dies in 2015 from the cen­tral gov­ern­ment af­ter an in­ves­ti­ga­tion of 90 such man­u­fac­tur­ers started in early 2016. Zhang Zhiy­ong, an in­de­pen­dent auto an­a­lyst in Bei­jing, said some man­u­fac­tur­ers had iden­ti­fied sub­si­dies as a source of fast money from the very start and had no in­ten­tion of­pro­duc­ing com­pet­i­tive cars.

The cen­tral gov­ern­ment started of­fer­ing sub­si­dies to stim­u­late the pro­duc­tion of new en­ergy ve­hi­cles in 2009.

The Na­tional De­vel­op­ment and Re­form Com­mis­sion said that China is home to more than 200 man­u­fac­tur­ers of new en­ergy pas­sen­ger ve­hi­cles, buses and spe­cial-use ve­hi­cles.

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