LINE

Text:AAAPrint
Economy

China punishes NEV manufacturers for fraudulent subsidy claims

1
2017-03-07 11:16Xinhua Editor: Gu Liping ECNS App Download

China has punished a number of new-energy vehicle (NEV) manufacturers for fraudulently claiming subsidies, Finance Minister Xiao Jie said Tuesday.

"The combined amount of retrieved subsidies and penalties imposed on companies involved is about 2.3 billion yuan (about 333.5 million U.S. dollars)," Xiao told a press conference on the sidelines of the national legislature annual session.[Special coverage]

"Problematic NEV models will no longer get subsidies, and companies involved in cheating are rectifying their problems," Xiao said.

"To prevent market disruptions, China has adjusted subsidy policies by lowering the amount, setting upper limits and raising market access standards," he said.

 

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.