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Shenzhen to offer subsidy for scrapping old diesel trucks
Owners of National III diesel trucks registered in Shenzhen can receive a subsidy of up to 23,000 yuan (US$3,200) for scrapping their vehicles before Dec. 31 this year, provided that the scrappage is completed at least one year before the mandatory scrapping deadline, according to a recent subsidy policy introduced by the city’s ecological environment bureau, in conjunction with relevant departments.
National III diesel trucks currently make up less than 1% of the total vehicle count in Shenzhen, yet they contribute to 10% to 20% of total PM2.5 and NOx emissions from motor vehicles. File photo
The subsidy is subject to a total limit and is available on a first-come, first-served basis. National III diesel trucks primarily emit fine particulate matter (PM2.5) and nitrogen oxides (NOx), both of which are significant factors affecting Shenzhen’s air quality. Currently, National III diesel trucks make up less than 1% of the total vehicle count in the city, yet they contribute to 10% to 20% of total PM2.5 and NOx emissions from motor vehicles.
In conjunction with the subsidy, National III diesel trucks will face gradual restrictions on urban roads in Shenzhen. Starting Jan. 25, such trucks will be subject to daily time-based traffic restrictions. From July 1, an additional 24-hour restricted area will be implemented based on the initial measures. This restriction will include a transition period of about 50 days, during which vehicles violating the restriction will be given warnings.
Action plan released to support green development
The Shenzhen Municipal Financial Regulatory Bureau, in collaboration with the city’s local financial management bureau, the ecological environment bureau, and the planning and natural resources bureau, has issued an action plan aimed at strengthening green finance in the banking and insurance industries.
This initiative seeks to enhance financial support for the comprehensive green transformation of economic and social development in Shenzhen.
An paroramic view of Shenzhen. Photo from Shenzhen Special Zone Daily
The plan focuses on promoting green development in key areas. It aims to bolster support for Shenzhen's unique industries by providing financial services related to energy conservation, pollution reduction, carbon reduction, greening, and disaster prevention. The initiative will facilitate green and low-carbon development in the transportation sector by offering financial backing and insurance protection for research, manufacturing, application, and procurement in areas such as new energy vehicles, intelligent connected vehicles, rail transit, and the low-altitude economy.
Additionally, the plan supports energy-saving and carbon-reduction initiatives in urban construction by addressing the financing needs of green buildings, prefabricated buildings, and energy-efficient retrofitting of existing structures. It also aims to develop performance insurance for green buildings and ultra-low energy consumption buildings. The action plan highlights the establishment of a green manufacturing system that provides comprehensive financial services for green enterprises, projects, products, and factories while encouraging the green and low-carbon transformation of high-emission industries, as well as their digital and intelligent upgrades. Furthermore, it promotes the development of low-carbon marine industries and introduces financial innovations such as blue carbon pledge financing and blue carbon index insurance.
The plan explores financing opportunities through resource and environmental rights, including carbon emission rights, national certified voluntary emission reductions (CCER), pollution discharge rights, forestry carbon sinks, marine carbon sinks, and Shenzhen's carbon-inclusive certified emission reductions. It actively leverages Shenzhen enterprise carbon accounts to innovate green financial products and services tied to carbon performance, thereby creating an incentive system compatible with carbon reduction financial support.
the plan also introduces a differentiated insurance premium rate mechanism, linking premium rates to customer ESG risk statuses and carbon emission levels. To enhance climate change resilience, it promotes the development of catastrophe insurance, compulsory environmental liability insurance, meteorological index insurance, and carbon sink insurance. It will also encourage products such as "climate loans," "carbon reduction loans," and intellectual property pledge financing for enterprises that achieve high ratings in the national (Shenzhen) climate investment and financing project database as well as in Shenzhen enterprise carbon accounts.
Guideline unveiled for building unified national market
China's top economic planner Jan. 7 released a guideline for building a unified national market, and breaking down market barriers, to boost domestic demand while enhancing openness.
The guideline, issued by the National Development and Reform Commission (NDRC), aims to encourage all localities and government departments to accelerate their integration into the unified national market and actively support its development.
Key measures outlined in the guideline include unifying the underlying institutions and rules of the market, improving the high-standard market infrastructure connectivity, building a unified market for factors and resources, advancing the high-standard integration of goods and services markets, enhancing fair and unified regulation, and curbing unfair market competition and improper intervention.
The guideline aims to eliminate local protectionism, regional barriers, and unfair practices in market access, bidding and government procurement. Local authorities are prohibited from using administrative or penal measures to intervene in economic disputes or infringe on business rights illegally, the guideline said, adding that unlawful cross-jurisdictional law enforcement or administration are also banned.
It stated that the cross-regional flow of goods and factors must not be restricted, and bidding and government procurement should avoid limiting or designating specific patents, trademarks, brands, parts, origins or suppliers.
The document also calls for establishing a unified national social security public service platform, allowing people to access social security in the locality where they work even if they do not hold local residency.
In addition to reducing barriers, efforts are underway to improve the business environment by ensuring national treatment for foreign-funded enterprises in terms of access to factors of production, license application, standards setting, and government procurement. (Xinhua)
