Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on Jan. 14, 2024.
China's commerce ministry said on Wednesday it would encourage the new energy vehicle industry to "actively" respond to foreign trade restrictions and cooperate with overseas firms, amid a European probe into Chinese subsidies for the sector.
The ministry issued guidelines that also encouraged automakers to set up R&D and after-sales service centers abroad, to collaborate with foreign partners in building up supply chains, and to work more closely with shipping companies on transportation logistics.
Under the measures, Chinese banks would be encouraged to expand domestic and overseas services for automakers and their supply chains, including the scale of cross-border RMB settlements.
The ministry also said it would optimize export procedures for NEVs and batteries.
Locations:
Chongqing, China