China considering new-energy car policy

With five million yuan (US$729,927) from foreign investment and domestic enterprises, China Automotive Technology and Research Center (CATRC) is leading a research study on six subjects to speed up the mass production of energy-efficient cars and promote the implementation of related energy-saving measures. The policies may include financial subsidies and favorable tax treatment for new-energy cars, disclosed Zhao Hang, president of CATRC. The proposal is said to come out by the end of 2008. (September 11, 2008)