Let market power new energy vehicles

In a move to support the development of new energy vehicles, the central government has devised a series of preferential policy measures in recent years, including financial subsidies and tax cuts for the fledging sector.

Local governments, too, have taken measures to support the new energy vehicle sector. Since the beginning of April, Xi'an, capital of Northwest China's Shaanxi province, Hangzhou, capital of East China's Zhejiang province, and Shanghai have adopted policies encouraging operators of battery-charging facilities to offer electric vehicles preferential prices.

The catalog for the third batch of new energy vehicles, published recently by the Ministry of Industry and Information Technology, has added 309 new vehicle types that qualify for promotion. This increases the types of such vehicles to more than 1,000 since the first catalog was first published in January 2016.