| New Energy Vehicles
According to the Ministry of Finance, from now on it will grant financial subsidies directly to new energy car consumers and support the production and use of new energy vehicles, mainly of the hybrid power variety, through tax policies. It is estimated that by 2012, the ministry will invest over RMB 20 billion to promote the use of new energy vehicles. In the initial period, the subsidy will be allocated to sectors where people take the initiative in promoting the use of energy saving and new energy consuming autos, including public buses, taxis, service cars and postal vans in large and medium-sized cities. As conditions mature, the subsidy will be available to all consumers. Chongqing Municipality will become the first city promoting new energy vehicles. The Ministry of Finance, together with the Chongqing government, will provide RMB 50 million in subsidies for post-sale servicing of new energy autos |
