China Offers Subsidies to Manufacturers To Lower Prices of Hybrid, Electric Vehicles

摘要

China's Ministry of Finance has launched a pilot program to subsidize auto manufacturers for sales of hybrid and pure electric vehicles in five cities, according to a joint June 1 announcement by the ministry, the National Development and Reform Commission, and the Ministry of Industry and Information Technology.rnThe program aims to lower the price of such vehicles for Chinese consumers, the government said.rnThe pilot program went into effect immediately in the cities of Changchun in Jilin province, Hangzhou in Zhe-jiang province, Hefei in Anhui province, and Shanghai municipality and Shenzhen in Guangdong province, "based on the purchasing power of residents and other conditions" in those areas, the Ministry of Finance said in a statement.