But even before that, automakers were aghast at draft requirements, first reported at the end of April, that China “would require as much as 8 percent of [all car] sales in China to be electric vehicles as early as next year.”
Now Bloomberg says that the Ministry of Industry and Information Technology has delayed this rule for a year, and announced a more comprehensive cap-and-trade system to go into effect in 2019. The system will require automakers who manufacture or import more than 30,000 vehicles a year in China to achieve a “new-energy vehicle score” (新能源汽车积分比例 xīn néngyuán qìchē jīfēn bǐlì) of at least 10 percent by 2019, and 12 percent by 2020. A Bloomberg New Energy Finance analyst said that 12 percent in this scoring system translates to “about 4 percent to 5 percent of actual vehicle sales” — much less than the 8 percent target raised earlier this year.
In other auto news:
- JD Power’s latest survey of vehicle quality revealed that Chinese automakers have almost closed the gap in quality with foreign automakers, the FT reports (paywall). Michael Dunne, author of a book on General Motors in China and a piece on SupChina about the Chinese carmaker Geely, told the FT that this was “the beginning of the end of Detroit in China.”
- CNBC has two reports on how Tesla and Japanese automakers are set to compete in the Chinese electric vehicle market.
- Sixth Tone says that “Batteries from green cars could swamp China’s recycling industry.”
Financial Times special report on higher education
Educating the next Chinese business leaders / FT (paywall)
A series of 11 articles on M.B.A. programs in China, covering topics such as the sex discrimination and stereotypes that women face, the relative salary outcomes for 26 schools in mainland China, Hong Kong, and Taiwan, the experience of foreigners at Chinese business schools, and much more.
See also: Chinese names rise on Fortune’s list of powerful businesswomen / Caixin
European railway competition with China
Siemens and Alstom form European train giant to beat Chinese competition / NYT (paywall)
China’s Shandong tightens screw on smog-prone cities / Reuters
Milled down: China steelmakers slash orders as Beijing war on winter smog nears / Reuters
China plans national parks network to fend off environmental threats / Caixin
China’s reforms allowing villagers to rent out land have boosted incomes / Bloomberg
China tries to boost support for small businesses through taxes, loans / SCMP
Alipay finds seat in Starbucks, 10 months after WeChat pay / Caixin