On February 8, the Chinese Government announced measures to further promote the use of new-energy vehicles in an effort to save energy and cut emissions.

Subsidies for new-energy car buyers in 2014 and 2015 will be raised from previous levels regulated by a standard introduced in September 2013, according to a statement jointly issued by the Ministry of Finance and three other government departments.

New-energy passenger car buyers received subsidies from 35,000 yuan ($5,730) to 60,000 yuan ($9.894) per vehicle in 2013, while new-energy coach buyers received subsidies of up to 500,000 yuan ($82,450) in 2013.

In 2013, it was stipulated that China would lower the subsidies by 10 percent this year from the 2013 level and by 20 percent in 2015.

The new statement, however, made an adjustment that will lower subsidies by only 5 percent in 2014 and 10 percent in 2015 from the 2013 level. The change came into effect on January 1, 2014.

To enhance government support for new-energy vehicles, the subsidy policy, which was scheduled to be phased out at the end of 2015, will be extended, the statement said.