China issues proposal to support consumption of new energy vehicles

HONG KONG (Reuters) – The Chinese government on Friday night announced proposals to further support expansion of new-energy vehicle (NEV) consumption.

According to the guideline, it targets to achieve vehicle sales of 27 million units in 2023, of which 9 million units will be new energy vehicles, representing a 30% increase from a year ago.

(Reporting by Twinnie Siu; Editing by Louise Heavens)