China May Unveil Car Emissions Rules This Week, Association Says

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Vehicles travel along a section of the 3rd Ring Road in Beijing, China, on Monday, May 15, 2017. China's economy is staging a comeback as quickening inflation boosts factory profits, while stricter capital controls and a stabilizing currency help stem outflows. Photographer: Qilai Shen/Bloomberg

Draft rules require companies to get minimum credit score
China plans to end sales of vehicles powered by fossil fuels

China will soon unveil a mandatory cap-and-trade credit program for electric cars, starting the countdown for carmakers to be in compliance with stricter rules on emissions and fuel economy, according to the country’s state-backed auto association.

The policy may be announced as early as this week, Shi Jianhua, deputy secretary general of the China Association of Automobile Manufacturers, said at a briefing in Beijing Monday. Shi didn’t provide a specific date.

Under draft rules released in September for public consultation, companies will be required to obtain a minimum new-energy vehicle credit score next year, derived from different weightings assigned to various types of zero- and low-emission vehicles. Companies that fail to meet the requirement face fines or have to buy credits from those that exceeded the minimum.

China is considering dialing back or delaying the proposed measures after industry feedback that the targets are overly ambitious. The government will implement the cap-and-trade policy in 2019 instead of next year, Caixin reported last month, citing people close to the Ministry of Industry and Information Technology.

Xin Guobin, a vice minister at the ministry, said Sept. 9 that China will set a deadline for automakers to end sales of fossil-fuel-powered vehicles, becoming the biggest market do so. The government is working with other regulators on a timetable to end production and sales.

— With assistance by Ying Tian

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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