(MENAFN) The Chinese central government intends to allocate funds to back a pilot initiative aimed at strengthening charging infrastructure for new energy vehicles (NEVs) in rural counties.
"This aims to address the shortage of charging facilities in the nation's rural regions, optimize the environment for the consumption of NEVs, and tap into NEV consumption potential in rural regions," said Fu Jinling, a finance ministry official.
The proposed investment in charging infrastructure forms part of the government's broader strategy to stimulate consumption, encourage new investments, and facilitate a transition to low-carbon technologies. These efforts align with the government's action plan, which seeks to drive large-scale equipment upgrades and trade-ins of consumer goods, projected to generate significant consumption demand annually.
According to data from the China Electric Vehicle Charging Infrastructure Promotion Alliance, substantial progress has been made in expanding charging infrastructure nationwide. During the January-March period of 2024, 716,000 charging piles were added, marking a 13.2 percent increase compared to the previous year. As of March this year, the total number of charging piles in China reached approximately 9.31 million.
Despite this growth, disparities persist between rural and urban areas in terms of charging infrastructure availability. Rural regions notably lag behind their urban counterparts, underscoring the need for targeted interventions to bridge this gap.
During a recent press briefing, Fu reiterated the government's commitment to promoting NEV adoption and sustainability. In addition to investing in charging infrastructure, the government plans to provide direct subsidies to consumers who transition from high-emission vehicles to greener alternatives. These measures aim to accelerate the transition to cleaner transportation solutions while fostering sustainable economic development.
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