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Govt will put billions into new-energy vehicles

2012-11-27 14:11 Caixin     Web Editor: yaolan comment

The Ministry of Finance will set aside 1 billion to 2 billion yuan annually starting this year to support the new-energy vehicle industry and related research and development, an official said on November 23.

Developing the new-energy car sector will be a priority of the central government in the future, assistant minister of finance Zheng Xiaosong said.

With central government help, more than 20,000 green cars have gone into use since 2009, Zheng said, and a complete industrial chain, from electric motors to batteries to assembly, has come into shape.

The government would continue to promote the use of hybrid buses in medium-sized and large cities because they had proven to be stable, use less energy and had lower greenhouse gas emissions, Zheng said.

So far, green buses had been put into use in 25 cities, including Beijing, Shanghai and Chongqing, Zheng said. Use of green vehicles should be expanded to include government, logistics and rental businesses, he said.

The State Council, the country's cabinet, approved a plan for the development of the new-energy car industry in April. Under the plan, 500,000 electric and hybrid cars will be produced and sold by the end of 2015.

Meeting the target will be a challenge. Last year, out of 18 million cars produced and sold in China, less than 10,000 were of the new energy variety.

Starting in 2007, the ministry and related government agencies have introduced more than 30 tax policies to support energy-saving sectors. The government has put more than 338 billion yuan into the sectors.

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