Economic highlights for this week
- By Matt Velker
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China.org.cn, June 14, 2011
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Less than 100 million out of the total 5 billion yuan budget allocated by China's central government for subsidies has been used. |
4) Only 2% of allocated clean-energy car subsidies used
On one hand, China's central government actively promotes the expansion of green cars, tempting manufacturers with huge subsidies. On the other, the market for the vehicles remains hopelessly sluggish. More than a year into a pilot subsidy program, dealers in China have only sold 10,000 clean-energy cars, which include plug-in hybrids, all-electric vehicles, hydrogen-fueled cars and other green technologies. Worse, only about a hundred of them were sold to private citizens. As a result, less than 100 million of the total 5 billion yuan budget allocated by the central government for the subsidies has been used. Clearly, the government's goal of popularizing green cars remains distant.
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