China's cars to turn green
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China will invest more than 100 billion yuan (US$15 billion) to support the development of fuel-efficient and new-energy vehicles over the next 10 years, according to media reports.
The financial aid is part of an industrial blueprint for alternative energy vehicles between 2011 and 2020 that has been completed by the Ministry of Industry and Information Technology, Shanghai Securities News reported, without naming sources.
According to the report, China wants to be the world's largest new-energy vehicle market by 2020 with 5 million green cars. The nation also wants to be the global top seller of fuel-efficient cars by then, with annual sales of more than 15 million autos.
The aid may include tax breaks, subsidies to boost sales as well as regulations on technology standards and infrastructure to help commercialize green cars.
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