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China to continue green-car subsidies in 2011

China to continue green-car subsidies in 2011

China says it will continue subsidies for energy-efficient cars next year. The move will help the world's largest auto market as other factors threaten to slow its rapid growth.
The Finance Ministry says in an online notice that the subsidies for fuel-efficient vehicles and new energy vehicles will be extended through 2011 to help cut emissions. The notice doesn't give further details.
Vehicle sales in China hit a record high this year and are expected to keep rising next year but at a slower rate.
China has said a tax break for small vehicles will end next year, which is expected to be one factor in slowing sales.
Global auto makers have been relying on China as they struggle with weak sales in the U.S. and other developed markets.


Updated : 2021-01-22 22:26 GMT+08:00