Carmakers remain optimistic despite reduced subsidies

Following the trial implementation of new regulations to further cut emissions, the new energy automobile sector is expected to see healthier development this year, with manufacturers behaving more ethically after ups and downs last year.

The China Association of Automobile Manufacturers foresaw another year of rapid growth for the new energy vehicle industry, and the association's deputy secretary-general Yao Jie said he is "full of expectations" for progress in 2017.

"A rapid growth rate is certainly possible. The Chinese government is promoting the development of the new energy vehicle sector anyway," Yao said on Thursday after a CAAM news conference in Beijing.