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China Extends Electric-Car Subsidies to Fight Air Pollution

China will give more subsidies for electric vehicles than previously announced as part of government plans to tackle pollution. Shares of BYD Co. rose.

Subsidies for 2014 will be cut by 5 percent, instead of the previously announced 10 percent, and decreased by 10 percent in 2015, instead of 20 percent, the finance ministry said in a joint statement with the National Development and Reform Commission, technology and industry ministries.