What does the phase-out of national subsidies mean?

[AshleyDella]

Subsidy phase-out means that while providing subsidies, the subsidies are gradually reduced in a planned and targeted manner based on the development of new energy vehicles, with clear time nodes and amount limits. The following is a related introduction: Points of subsidy reduction: Entering 2015, the national subsidies for new energy vehicles in China will further decline compared to the previous year. According to the "Notice on Further Promoting the Application of New Energy Vehicles" jointly issued by the National Development and Reform Commission and other departments on February 8, 2014, the subsidies in 2014 and 2015 will decrease by 5% and 10% respectively compared to 2013. Reduction in subsidies for new energy vehicles: The subsidy promotion policy is confirmed to be explicitly implemented until December 31, 2015. It can be seen that the national subsidies obtained by purchasing new energy passenger vehicles in 2015 will further decrease. In addition, since the local subsidy amounts in many regions are calculated based on different proportions of the national subsidies, they will also show a trend of year-by-year decline as the national subsidies decrease.