Green energy car firms punished for fraud
Source: Xinhua |
March 8, 2017, Wednesday
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Print Edition
Print Edition
CHINA has punished a number of new-energy vehicle manufacturers for fraudulently claiming subsidies, Finance Minister Xiao Jie said yesterday.
“The combined amount of retrieved subsidies and penalties imposed on companies involved is about 2.3 billion yuan (US$333.5 million),” Xiao said.
“Problematic (new-energy vehicle) models will no longer get subsidies,” Xiao added.
“To prevent market disruptions, China has adjusted subsidy policies by lowering the amount, setting upper limits and raising market access standards.”
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