The Ministry of Finance and the National Development and Reform Commission have sent out a notice on adjustment of subsidy standards for new-energy vehicles for 2014 and 2015, the China Securities Journal reported Monday, citing information posted on the ministry’s website. The plan covers pure electricity passenger cars, hybrid passenger cars, pure electricity vehicles for special purposes and fuel cell-powered vehicles. According to the notice, subsidy rates this year and next year will be 5 percent and 10 percent less respectively compared to the levels in 2013. Under an earlier plan, the rates had been envisaged to be 10 percent and 20 percent less for 2014 and 2015 respectively. According to the latest notice, the subsidy program will continue after it expires at end-December 2015 when new standards will be announced. Meanwhile, the ministry added 12 more cities and regions in its list for promotion of such vehicles, including Shenyang and Changchun, the report said.
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