Shandong tightens investment regulations on vehicle production, overcapacity industries


Permalink 04:47:26 pm, by dacare, 187 words, 83 views   English (US)
Categories: News of China

Shandong tightens investment regulations on vehicle production, overcapacity industries

East China's Shandong Province said Wednesday it has tightened its investment regulations, including a move to not approve new gasoline-powered car producers.

Meanwhile, new-energy vehicle manufacturers are now required to have power system and whole-vehicle research and development capacities before receiving government approval for establishment, the provincial government said.

China has been offering subsidies for new-energy vehicle purchases in a bid to increase the numbers of cleaner vehicles on the road.

It has signalled the intention to join countries such as Britain and France with plans to ban the manufacturing and sales of fossil fuel cars.

Xin Guobin, China's vice minister of Industry and Information Technology, said in September that China has begun researching a timetable to phase out the production and sales of fossil fuel cars.

The provincial government also announced that it would no longer approve new plants in industries plagued by overcapacity, such as steel, electrolytic aluminum, plate glass and shipbuilding.

In addition, it will not approve capacity increases for coal production companies, and new dangerous chemicals projects will now require investment of more than 300 million yuan (45.2 million U.S. dollars) to receive approval.

Sponsor Link: The leading executive search firm in China


No Pingbacks for this post yet...

China Job Links:

China Recruitment Agency
Leading executive search firm in China
1000+ executive search cases

China Payroll & Benefits Services
Payroll & Benefits local Chinese hire
Setup your operation fast and cheap
China Job Openings - LinkedIn
Join #1 LinkedIn China Career Group
Find more Chinese jobs and talent



XML Feeds

What is RSS?

Who's Online?

  • Guest Users: 30

powered by b2evolution free blog software