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
Industry

Multiple regions in China support consumption of NEVs, eyeing growth momentum in Q4

October 27, 2022


Abstract : Policy measures have been issued in multiple places in China lately to support the consumption of new energy vehicles (NEVs), upon which experts believe that the production and sales of NEVs should remain growth momentum in the fourth quarter, reported Securities Daily on Thursday.

pic.jpg

Aerial photo taken on Oct. 12, 2022 shows new energy vehicles made by Chinese automaker Chery Holding Group Co., Ltd. in Wuhu, east China's Anhui Province. (Xinhua/Zhou Mu)

BEIJING, Oct. 27 (Xinhua) -- Policy measures have been issued in multiple places in China lately to support the consumption of new energy vehicles (NEVs), upon which experts believe that the production and sales of NEVs should remain growth momentum in the fourth quarter, reported Securities Daily on Thursday.

Currently, NEV consumption is making important contribution to domestic consumption recovery, said Wu Qi, executive director of the Wuxi Institute of Digital Economy based in east China's Jiangsu Province. The new measures taken should not only strengthen consumption promotion, but boost the implementation of existing policies, according to Wu.

For instance, Shaoxing City in east China's Zhejiang Province has issued several policies on October 13 to promote NEV consumption through various measures such as offering subsidies for NEV purchase and giving discounts to qualified families and talents.

Introducing policies to support the consumption of NEVs is an important means to stimulate consumption and expand domestic demand, which is conducive to boosting the confidence of the NEV market and driving the recovery of related industries, said Song Xiangqing, director of the industrial economy research center at Beijing Normal University.

According to data from the China Passenger Car Association, 611,000 NEVs were sold in China in September, up 82.9 percent year on year. With the policy moves starting to show effect, it is expected that the production and sales of NEVs will continue to maintain the booming trend in the fourth quarter.

(Edited by Yu Huichen with Xinhua Silk Road, yhc0267@163.com)

Scan the QR code and push it to your mobile phone

Keyword: consumption NEV policy measures

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