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New energy bus subsidy policy to be continued

BEIJING – The subsidy policy on new energy buses will be continued through 2015, according to Li Gaopeng, vice director of Zhengzhou Yutong Bus Technology Research Institute, reported China Securities Journal.

The total subsidy amount will be increased and the benchmark of fuel saving will be raised. The central government will directly allocate subsidies to enterprises to prevent local protectionism, said Li.

Under the new policy, bus manufacturers can apply directly to the central government through relevant departments. Without intermediate links, enterprises will receive the subsidy in a short time which is beneficial for the promotion of new energy buses.  

China plans to promote 3,000-5,000 hybrid buses this year, according to a document released by the Ministry of Finance. The target has been fully achieved since the subsidy can be received by the enterprises smoothly, according to Li.


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