Driving green

Beijing, in an attempt to reduce emissions and harbour a vibrant domestic electric vehicle market, said on June 1 it would offer as much as Rmb 50,000 ($7,320, €5,987, £4,987) in subsidies for carmakers for each purchase of plug-in hybrid electric vehicles and up to Rmb 60,000 for pure electric vehicles. The trial will be tested in Shanghai, Changchun, Shenzhen, Hangzhou and Hefei, all known for individual domestic car brands. The government added that the level of handouts would be reduced after carmakers sold 50,000 green cars, and that it would finance the construction of charging stations in the pilot cities.

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  Select financial charts

• Macro View

  Whither interest rates?

• The Big Call

  Food to drive inflation above target

• The Best of Chinese Commentators

  Property price conundrum

• Funds Data

  Managers spread net beyond China

• Consumer China

  Online games – big guys slaying little guys

  Perfect World – loyal customers spend more

  Tencent – a good mix

  Shanda Games – players spend less

  Netease – World of Warcraft comes at a cost

  Changyou – shrinking sales growth

• Capital Intensive China

  Will fixed asset investment growth slow?

• Guest Column

  Institutional investing in A-shares

• View issue