Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Belt and Road FAQ

China punishes 7 automakers for green subsidy breaches

February 06, 2017


Abstract : The Ministry of Industry and Information Technology (MIIT) has cut subsidy qualifications for seven Chinese automakers over subsidy cheating.

BEIJING, Feb. 4 (Xinhua) -- The Ministry of Industry and Information Technology (MIIT) has cut subsidy qualifications for seven Chinese automakers over subsidy cheating.

Chongqing Lifan Automobile Co., Ltd, one of the punished producers, was accused of equipping 1,353 new-energy cars with sub par number of battery cells in 2015, when it applied for financial subsidies.

The MIIT penalty effectively bans the automakers from entering an official catalogue of recommended vehicle types which get fiscal support to lower their prices and boost market competitiveness.

Authorities will review their application after they rectify their problems in two months.

Authorities launched investigations into subsidy cheating cases in beginning of 2016 after the country had forked out about 33 billion yuan (about 4.8 billion U.S. dollars) of subsidies between 2009 and 2015.

The subsidy program has played an important role in the country's booming market for new-energy vehicles, which are seen as effective in cutting emissions.

China sold 507,000 new-energy vehicles last year, a rise of 53 percent year on year.

The government will cut subsidies to new-energy vehicles by 10 percent this year from the 2016 level and plans to phase out the subsidies by 2020.

Scan the QR code and push it to your mobile phone

Keyword: automaker new-energy-vehicle subsidiaries

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial