India not to impose Capital Controls like other Asian countries as Economy's absorbing capacity increases
August 4, 2010AUO's Gigawatt Solar Ambitions hit an Environmental Bump over Manufacturing in Taiwan
August 4, 2010China criticized for discriminating against foreign companies
China has come under fire from MNC’s for favoring local firms over foreign ones and providing massive subsidies to its domestic industries.The Chinese government has been criticized for its policies which allow market access in exchange for technology transfer.This is leading to frequent clashes between the Chinese government and companies on one hand and foreign governments on the other hand.Huawei has been blacklisted by the Indian government and prevented from acquiring US assets by the USA government.Chinalco’s bid to acquire Rio Tinto was also blocked as foreign governments view Chinese state owned companies with deep misgivings.China has not improved it policies despite these hurdles and criticism.It announced a massive $15 billion subsidy over the next 10 years to promote Clean Transportation which would favor domestic firms.
China introducing Large Subsidies to promote domestic EV companies
China’s Green Stimulus policies has been massively biased towards the growth of domestic industries.Electric Vehicles is no different with China recently introducing Fuel Efficiency Subsidies in Auto Industry exclusively for Domestic Firms.Now the new announcement by the Ministry of Industry and Information Technology to subsidize energy efficiency in Transportation with a 100 Billion Yuan Subsidy over the next 10 years further explicitly supports domestic firms.The document talks about creating 3-5 Clean Vehicles Producers and 2-3 Auto Component makers through the Subsidy.In other words China’s EV subsidies are going to help create National Champions in Clean Transportation.Note China already is a leader in Battery Technology and Manufacturing and some of its firms like BYD are already producing Electric Vehicles.This policy will further give a big boost in making these firms global leaders in Clean Transportation.
China to invest $15 bn over 10 yrs for green autos: Report – Economic Times
The Chinese government will invest more than 100 billion yuan ($14.8 billion) to subsidise its fledgling environmentally friendly car industry over the next 10 years, the Shanghai Securities News reported on Wednesday. According to a draft plan worked out by the Ministry of Industry and Information Technology, 60 billion yuan will be invested in the development of energy-saving technologies, the newspaper said, citing unnamed sources.
The government also wants to foster three to five major makers of energy-efficient cars and two to three parts makers that can supply them, it added.
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[…] “New Energy Vehicles (NEVs)” is China’s terminology for hybrid and electric vehicles (EVs). In August, China’s government announced that it would invest the equivalent of US $15 billion to support three to four automakers in their development, production and marketing of NEVs. (Click on China Green Vehicles.) […]