Breaking News

Swiss National Bank Introduces Negative Interest Rate of -0.25%
Tweet TWEET

China to Tighten Subsidies on Energy-Saving Cars, Government Official Says

China will tighten rules on subsidies for energy-saving vehicles made by local automakers, according to a government official. Cars will qualify for a subsidy if they have an average fuel consumption of 6.3 liters of gasoline or lower per 100 kilometers, Xiang Dihai, a director at the department of Economic Construction at the Ministry of Finance, said in an interview today in Tianjin. The current threshhold is 6.9 liters per 100 kilometers.

The subsidy will remain at 3,000 yuan per vehicle, Xiang said. The finance ministry and the National Development and Reform Commission will announce the policy change “soon” on their websites, he said.

To contact the reporter on this story: Tian Ying in Beijing at ytian@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.