"Notice on Further Promoting and Applying New Energy Vehicles"

On January 28, 2014, the Ministry of Finance, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, and the Development and Reform Commission jointly issued the "Notice on Further Promoting the Application of New Energy Vehicles"(Finance and Construction[ 2014] (No. 11), which reads as follows:

Provinces, autonomous regions, municipalities directly under the Central Government, plans to list the city's financial department(Bureau), the science and technology department(Bureau, science and technology committee), the competent Department of industry and information technology, and the Development and Reform Commission:

In order to accelerate the development of the new energy vehicle industry, promote energy conservation and emission reduction, and promote the control of atmospheric pollution, the Ministry of Finance, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, and the Development and Reform Commission launched the promotion and application of new energy vehicles in 2013 with the approval of the State Council. From the implementation of the situation, the work has progressed smoothly, the number of promotion has increased rapidly, the scale of the market has continued to expand, and the policy effect has gradually emerged. In order to further the work, the relevant matters are advised as follows:

In accordance with the "Notice of the Development and Reform Commission of the Ministry of Science and Technology of the Ministry of Finance on Continuing the Promotion and Application of New Energy Vehicles"(No. 551[2013], hereinafter referred to as "the Notice"), Subsidies for pure electric passenger vehicles, plug-in hybrid passenger vehicles(including add-ons), pure electric special vehicles and fuel cell vehicles for 2014 and 2015 will be reduced by 10 per cent and 20 per cent from the 2013 standard. Subsidies for these models have been adjusted to a 5 per cent reduction from the 2013 standard in 2014 and a 10 per cent reduction from the 2013 standard in 2015, with effect from 1 January 2014.

In accordance with the relevant documents, the current subsidy promotion policy has been explicitly implemented until 31 December 2015. In order to maintain policy continuity and increase support, the central government will continue to implement the subsidy policy after the expiration of the above-mentioned subsidy promotion policy. The specific measures shall be published separately.

III. According to the current regulations, the subsidy funds are pre-allocated on a quarterly basis and liquidated annually. All production enterprises are requested to report to the Ministry of Finance and the Ministry of Science and Technology, step by step, the sales of new-energy vehicles in the previous quarter and relevant certification materials by the end of April, July and October each year through the finance and science and technology departments of the registered places. The Ministry of Finance and the Ministry of Science and Technology will pre-allocate the subsidy funds according to the sales situation of the enterprise. Before the end of January each year, according to the above procedures, the liquidation report of the previous year and the sales and operations of the products, including sales invoices, technical parameters of the products and license information, etc., the Ministry of Finance and other four ministries and commissions organize experts to review and liquidate. Departments at all levels of finance and other departments shall do a good job in applying for the funds allocated in advance by the central government and in annual liquidation, and allocate subsidies in a timely manner in accordance with the provisions of the financial Treasury management system.

Ministry of Finance, Ministry of Science and Technology, Ministry of Industry and Information Technology, Development and Reform Commission

28 January 2014

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