China to Raise Subsidy Threshold for Fuel-efficient Cars
[2011-09-08 10:12:48]
China will introduce a new subsidy scheme that raises the energy-efficiency threshold for carmakers. The Chinese government is hoping to encourage industrial restructuring among the country's car manufacturers.
The new scheme will allow carmakers to receive a subsidy of 3 thousand yuan, or around 470 U.S. dollars on cars with engine capacity of 1.6 liters or less, and consume no more than 6.3 liters of fuel per 100 kilometers. Those are stricter requirements on fuel consumption compared to the current scheme. The new standards will take effect in October.
China's Ministry of Finance says the current subsidy scheme boosted car sales by 2.15 million units after nearly a year of operation.
Source: CNTV
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