Shandong Authorities Will Reject All Applications for New Fossil Fuel Vehicle Firms
Dou Shicong
DATE:  Oct 25 2017
/ SOURCE:  Yicai
Shandong Authorities Will Reject All Applications for New Fossil Fuel Vehicle Firms Shandong Authorities Will Reject All Applications for New Fossil Fuel Vehicle Firms

(Yicai Global) Oct. 25 -- The government of Shandong in Northeast China introduced policies to curb overcapacity, deciding that authorities will reject all applications for establishing fossil fuel vehicle companies in principle.

Groups may create new energy vehicle enterprises if they can satisfy core technology criteria laid out by the government.

Construction of new production facilities will be strictly prohibited for industries with serious overcapacity issues, including steel, electrolytic aluminum, cement, flat glass and shipbuilding, state-run Xinhua news agency reported today, citing the government's latest amended investment approval directory. Authorities will not allow businesses in these fields to apply for land lease, environmental licenses or credit support.

Shandong put halts on new coal mining projects and increases in the production volume of existing mines last year. If a company can justify the creation of a coal mine, it must shut an existing energy-consuming mine to open the new one.

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Keywords:   Shandong,Fuel Vehicle,Capacity Control