BEIJING, July 5 (Xinhua) -- China will strictly cap new production capacity of traditional fuel vehicles and actively promote the healthy and orderly development of new energy vehicles, and focus on building a smart car innovation development system, according to a draft on the management of the investment in the domestic automobile industry on Wednesday.
The National Development and Reform Commission (NDRC), China's top economic planner, released the draft to solicit public opinions.
According the draft, China encourages provinces and enterprises with low utilization rate of automobile capacity to increase capital investment and mergers and acquisitions (M&As).
It encourages the existing traditional fuel automobile enterprises to increase capital investment, adjust product structure, and develop new energy automobile products.
Meanwhile, the pure electric vehicle projects in which the new pure electric vehicle enterprises and existing enterprises invest should be built in provinces with good industrial basis, complete innovation system, strong supporting capacity and great development potential, and the key areas for air pollution prevention and control.
The country also supports the social capital and enterprises with strong technical capabilities to invest in such fields as the new energy vehicles, smart cars, energy-efficient vehicles and key components, advanced manufacturing equipment, power recycling technology and equipment R&D. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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