China says to continue subsidies for green cars in 2011

Newswire

BEIJING, Dec 31 (Reuters) - China will extend subsidies to buyers of fuel-efficient cars next year but will no longer provide hand-outs to farmers who trade in fuel-guzzling models for new ones, the finance ministry said on Friday. The government would continue to promote fuel-saving and green vehicles through financial subsidies, the ministry said in a statement on its website. Major mini-vehicle makers, such as Chongqing Changan Automobile Co Ltd and GM-SAIC-Wuling, would be affected ...

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