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Look overseas for new-energy vehicle ideas, Chinese firms urged

 

The Ministry of Commerce is encouraging domestic auto companies to utilize foreign investment and technology to boost their development of energy-saving and new energy vehicles, a senior official said.

The ministry will introduce preferential fiscal and taxation policies to encourage auto companies to import new energy vehicles' key components; promote international technology cooperation such as outsourcing, joint development and application for patents overseas and support eligible companies to become listed overseas to attract foreign capital, diversifying their usage of foreign investment.

As the national authority of foreign investment, the Ministry of Commerce will work out more and better methods of utilizing foreign investment to implement the country's 12th Five-Year Plan (2011-15) of developing new energy vehicles, which has become a strategic emerging industry, according to Qiu Lixin, deputy director of the ministry's department of foreign investment administration, on Nov 9 at the 2013 China International Green Innovative Products and Technologies Show, which was held in Guangzhou from Nov 8 to 11.

 

 
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