CHENGDU, Jan. 16 (NBD) -- The dynamic regulation mechanism of subsidy policy for new energy vehicle (NEV) is established, according to an official of Ministry of Finance.

The policy is to support the excellent and progressive enterprises and products so as to set up a market mechanism which select the advanced and eliminate the backward.

Enterprises and products with insufficient technology will no longer have access to government subsidies.

Local governments can introduce preferential policy to support NEV industry but shall not protect backward enterprises or products.

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