The Ministry of Finance (MOF) will grant financial subsidies directly to consumers who buy new energy vehicles in the future, said Wang Bao'an, director-general of the Economic Construction Department of the Ministry of Finance.
The ministry will support the development of new energy vehicles with preferential tax policies for the manufacturing and purchasing of these vehicles. It is expected that by 2012, the MOF will inject over 20 billion yuan to promote new energy vehicles. Wang made these comments at the "Summit Forum for Urban Development, Energy Saving and Emission Reduction of Vehicles," which was held in Chongqing, on November 27.
By People's Daily Online