China supports social capital to invest in new energy vehicle

Updated 2017-06-13 09:33:50 Xinhua

Private capital is encouraged to flow into new energy vehicle (NEV) production so as to boost the healthy development of the NEV market, the country's top economic planner said on Monday.

China will also assist conventional automobile enterprises to restructure to use NEVs, according to the National Development and Reform Commission (NDRC) website.

If an electric car manufacturer applies to increase production capacity, its capacity utilization rate should be higher than the industrial average during the previous year.

The country will optimize capacity layout of the conventional oil-fueled automobile industry by encouraging mergers and restructuring.

The NDRC and the Ministry of Industry and Information Technology will be responsible for monitoring the auto industry, the statement said.

Production and sales of new energy vehicles in China rose in May. A total of 45,000 NEVs were sold, up 28.4 percent year on year, while 51,000 NEVs were produced, up 38.2 percent , data from the China Association of Automobile Manufacturers showed Monday.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 19 2017 04:18:08

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 19 2017 04:18:08

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 19 2017 04:18:08

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords