China to Champion Eco-vehicles with Favorable Policies
China has further proved it is committed to cutting harmful emissions with a slew of measures to support electric vehicles, according to a State Council statement on Wednesday.
To promote growth of the burgeoning sector, more charging stations and inter-city fast-charge stations should be built, according to the statement released after a State Council executive meeting presided over by Premier Li Keqiang.
New residential complexes should ensure that all parking lots have charging facilities or space should be left for such facilities, while no less than 10 percent of parking lots in large public buildings or public car lots should have charging facilities, the statement said.
The government said it would welcome private investment in the project, it said.
China will provide tax and land support, allow privately-owned parks to collect fees and support favorable financing options for construction projects, according to the statement.
The new energy vehicle sector in China has seen explosive growth in the past two years, thanks to subsidies and tax cuts.
In the first eight months of this year, sales of new energy vehicles surged 270 percent to 108,654 vehicles, according to the China Association of Automobile Manufacturers.