China to invest $3.1 billion to replace aging trucks, promote NEVs

(ECNS) -- China will allocate 22 billion yuan ($3.1 billion) in ultra-long special treasury bonds this year to replace aging commercial trucks, with the program aimed at accelerating the adoption of new energy heavy-duty vehicles, an official said Tuesday. 

The policy is part of the country's broader efforts to boost green transformation in the transport sector and stimulate consumption in the new energy truck market.

(By Helen Mo, intern Li Chengzhan)