China to cut new energy vehicle subsidies by 30% in 2022

China's Finance Ministry has said the nation will cut its subsidies on new energy vehicles (NEV), such as electric cars by 30% next year. The 2022 NEV subsidies policy will terminate on December 31, 2022, and NEV will not be subsidised afterwards. Subsidies in case of NEVs for public transport would be cut by 20% in 2022.