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China Daily | Updated: 2017-03-13 06:54

Editor's note: Government officials and entrepreneurs at the annual two sessions echo their views on the auto industry.

"The combined amount of retrieved subsidies and penalties imposed on those companies that cheated to obtain subsidies is about 2.3 billion yuan ($333.5 million). Companies producing problematic new energy vehicles models will no longer get subsidies and those firms that cheated are now working to rectify their problems. To prevent market disruptions, China has adjusted its subsidy policies by lowering the total amount, setting upper limits and raising market access standards."

Xiao Jie, finance minister

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