The ministers of Finance, MoST(Ministry of Science and Technology), MIIT(Ministry of Industry and Information Technology), NDRC(National Development and Reform Commission) have jointly issued a working document to push forward the pilot demonstration activities related to energy-efficient and new energy vehicles in China.

The document requires the demonstration cities as well as the energy-saving and new energy vehicles manufacturers to work together to implement the earlier work document to ensure the success of demonstration activities.

In addition, the article disclosed the current priorities to be the assessment and evaluation of demonstration activities. Cities that did not pass the final assessment will be removed from the demonstration city list and this also applies to auto manufacturers.

The effects of the government's recent announcement of the renewed measures to speed up the development of the country's new-energy vehicle industry can already be seen in Chinese markets. With shares in Chinese automaker BYD seeing a 26% rise and those in clean technology auto parts manufacturer Hybrid Kinetic seeing a 29% rise in the days following the announcement.

Source: Reuters article on the announcement's effect on the auto industry.

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