Photo/Shetuwang

Apr.10 (NBD) -- China's auto industry, the charging pile sector in particular, sees a massive boost with stimulus packages from the government.

On Thursday, the joint prevention and control mechanism of the State Council held a press conference, announcing that China is expected to invest 10 million yuan in charging facilities in 2020 with 200,000 public charging piles and 400,000 private ones to be in place.

In the past ten years, around 450,000 public charging piles have been built in China. With the new stimulus, the development of charging facilities will enter a new stage.

National Business Daily (NBD) noticed that the sector has witnessed three rounds of financing this March, with the joining of new players such as battery giant CATL and Ant Financial.

Moreover, China is also considering postponing implementation of "China VI" vehicle emission standards in the regions where such standards haven't take effect.

The epidemic has held back consumption, resulting in a large inventory of cars with "China V" vehicle emission standards, said Xu Haidong, assistant secretary-general of the China Association of Automobile Manufacturers, to NBD.

Besides, policymakers in the Ministry of Commerce and the Ministry of Finance are also considering revising the policies to facilitate the cross-region transaction of second-hand cars and provide subsidies to charging pile runners.

The auto sector is crucial for the national economy. Those measures are taken to boost sales and facilitate production resumption, Cai Ronghua with the National Development and Reform Commission told a press conference on Thursday.

Statistics shows that currently, major automakers in the country have resumed production. The industry was impacted by the coronavirus outbreak, but the long-term outlook is positive. After the adjustments, the sector is expected to revive and remain stable for a certain time, remarked Cai.

Email: gaohan@nbd.com.cn