China Green Bulletin: China to Cut New-Energy Vehicle Subsidies by 30% in 2022
The Caixin ESG biweekly has been upgraded to the China Green Bulletin! You are receiving the free biweekly version. Sign up here for our twice-a-week email to keep up to date on green, energy and ESG news out of China.
China to cut new-energy vehicle subsidies by 30% in 2022
China will cut subsidies on new-energy vehicles (NEVs) by 30% in 2022 and eventually phase out the whole subsidy plan at the end of this year, according a notice 2022年新能源汽车推广应用财政补贴政策的通知 issued by the Ministry of Finance and three other ministerial agencies on Dec. 31. For NEVs for public transportation, subsidies will be cut by 20% in 2022. Since 2009, the Chinese government had handed out nearly 150 billion yuan ($23.5 billion) in subsidies for NEVs, creating the world’s largest market. In 2021 alone, 3.4 million NEVs were sold in China. With Tesla, local producers and other global automakers all ramping up NEV production, a competitive ecosystem has been established in this country.
Caixin Insight, the research arm of Caixin Global, is a strategic advisory helping clients assess policy risk and macroeconomics in China.
- 1China to Encourage Low-Emission Gasoline Cars Amid Green Push
- 2Hong Kong Allows Airlines to Restart Boeing 737 Max Flights
- 3China Sees Smaller Spillover Impact From Fed Moves Than Before
- 4In Depth: China’s Lagging Expansion of Medical Infrastructure
- 5Evergrande to Hire Advisers on Debt Risks, Creditor Demands
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas
Sign in with Google
Sign in with Facebook
Sign in with 财新