China to announce new support for new energy cars

A model is pictured with a Green Wheel electric car in November 2011 in Shenzhen, China. [Photo/IC]

BEIJING - China will create a favorable environment to foster quicker growth in the new-energy vehicle sector through fiscal policy, the Ministry of Finance said on Tuesday.

Existing polices have already created a fertile environment for the sector to expand, said Zeng Xiao'an, director of the ministry's economic construction department .

Zeng said a new policy package was on the cards, which would support the growth of new energy automobiles.

According to Zeng, more charging stations and supporting infrastructure were also in the pipeline.

The government would also help improve innovation in the sector, Zeng said.