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Subsidy scheme sets tougher standards
By Ding Yining |
September 17, 2011, Saturday
|
Print Edition
Print Edition
CHINA has introduced a more stringent standard for the subsidy scheme for fuel-efficient carmakers in a bid to encourage industrial restructuring.
Carmakers will be able to receive subsidy of 3,000 yuan (US$469) a vehicle for cars weighing 1,205 kilograms to 1,320 kilograms and consuming no more than 6.3 liters of fuel per 100 kilometers, lower from the previous 6.9-liter threshold, the Ministry of Finance said in a statement on its website yesterday.
The old plan was unveiled in June last year, and was applicable to cars with engine capacity of 1.6 liters or less.
Under the new rules, the ministry has reduced the 16 vehicle weight categories to seven classes.
Fuel consumption standards for other cars have been raised according to their technical specifications, it said. The amount of subsidy remains the same for all categories.
The government is stepping up efforts to encourage carmakers to introduce more fuel-efficient vehicles as auto numbers rise.
Vehicle sales in China are expected to slow this year from the 32 percent growth rate in 2010, after the government removed sales-tax breaks and rebates for rural buyers in January.
The government had handed out subsidies of 10.7 billion yuan for 3.57 million energy-saving cars by the end of August, the ministry said.
Carmakers will be able to receive subsidy of 3,000 yuan (US$469) a vehicle for cars weighing 1,205 kilograms to 1,320 kilograms and consuming no more than 6.3 liters of fuel per 100 kilometers, lower from the previous 6.9-liter threshold, the Ministry of Finance said in a statement on its website yesterday.
The old plan was unveiled in June last year, and was applicable to cars with engine capacity of 1.6 liters or less.
Under the new rules, the ministry has reduced the 16 vehicle weight categories to seven classes.
Fuel consumption standards for other cars have been raised according to their technical specifications, it said. The amount of subsidy remains the same for all categories.
The government is stepping up efforts to encourage carmakers to introduce more fuel-efficient vehicles as auto numbers rise.
Vehicle sales in China are expected to slow this year from the 32 percent growth rate in 2010, after the government removed sales-tax breaks and rebates for rural buyers in January.
The government had handed out subsidies of 10.7 billion yuan for 3.57 million energy-saving cars by the end of August, the ministry said.
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