China releases seventh batch of energy-efficient cars qualified for subsidy

China released the seventh batch of energy-efficient cars that will be given government subsidy. The catalogue was released jointly by the National Development and Reform Commission (NDRC), the Ministry of Industry and Information Technology (MIIT) and the Ministry of Finance. The current catalogue contains a smaller number of qualified energy efficient vehicles compared to the previous six batches. A total of 49 models manufactured by 12 carmakers are listed in the new catalogue. In June 2010, the NDRC, MIIT, Ministry of Finance and the Ministry of Science and Technology issued a joint policy that granted a one-off 3,000 yuan (US$469) subsidy to energy-saving vehicles. To qualify for the subsidy, the energy saving vehicles should have a displacement of less than 1.6 liters and the general consumption should be about 20% lower than existing standards. (October 21, 2011)