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China Stimulus To Push Move To Cleaner Technologies

CHINA

CNY300bn of Stimulus to Revitalize Industrial Machinery and Incentivize Households to Invest in cleaner technology.

  • Long dated Chinese government bonds will be issued to fund an initiative to replenish industrial and household equipment.
  • With a focus on cleaner technologies this stimulus is seen as directly targeting China’s booming EV industry
  • Subsidies for EV manufacturers will be complemented by local government incentives for households to trade in their vehicles for upgrades, and support demand for EV’s and EV manufacturers
  • In an environment where the potential front runner for the White House sees EV’s as a ‘Green Scam’ and suggests that they will completely obliterate the US automotive industry, this program comes at an interesting juncture .
  • To add to this, a 15% subsidy will be included for purchases of energy efficient household appliances.
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