The Ministry of Industry and Information Technology revises the Dual-Credit Management Measures and seeks public input.

On July 7, the Ministry of Industry and Information Technology released a draft for public consultation on the "Decision on Amending the ." The draft includes revisions to the credit calculation methods and assessment ratios, as well as the addition of a market-based adjustment mechanism for credit trading. It also establishes a system for collecting, storing, and releasing positive new energy vehicle credits, ensuring the stable operation of the credit trading market.

The specific amendments are as follows: To meet the needs of development and technological advancement in my country's energy-saving and new energy vehicle industries, the Ministry of Industry and Information Technology and other relevant departments have decided to make the following amendments to the "Measures for the Parallel Management of Passenger Vehicle Enterprises' Average Fuel Consumption and New Energy Vehicle Credits":
1. Amend Article 15, paragraph 3, to read: "New energy passenger vehicle model credits for 2021 to 2025 shall be determined in accordance with the 'New Energy Passenger Vehicle Model Credit Calculation Method' (see Appendix 2). New energy passenger vehicle model credits for 2026 and subsequent years shall be separately announced by the Ministry of Industry and Information Technology."
2. Add a paragraph to Article 21 as paragraph 2: "The average carbon dioxide emissions of passenger vehicle companies shall be calculated and publicly disclosed in accordance with the requirements of Section 4.2 of the 'Passenger Vehicle Fuel Consumption Evaluation Methods and Indicators'."
3. Amend Article 29 to read: "Positive new energy vehicle credits purchased by passenger vehicle companies may be offset and carried forward during their validity period in accordance with the provisions of these Measures."
4. Add a chapter on "Credit Trading Market Regulation Mechanism" as Chapter 6, comprising Articles 31 to 34. 5. Add one article as Article 31: "Establish a mechanism for the collection, storage, and release of positive new energy vehicle credits to ensure the smooth operation of the credits trading market. The Ministry of Industry and Information Technology will establish a credits pool to collect, store, and release positive new energy vehicle credits."
6. Add one article as Article 32: "Starting in 2023, if the sum of positive new energy vehicle credits generated and carried forward in a given year exceeds 2.0 times the sum of the enterprise's average fuel consumption negative credits after offsetting the carry-forward and transferred credits and the negative new energy vehicle credits, within 90 days of the release of the annual credits accounting report, enterprises may, on a voluntary basis, deposit positive new energy vehicle credits into the credits pool. The number of credits deposited shall not exceed 40% of the total positive new energy vehicle credits generated and carried forward in that year. There is no carry-forward ratio requirement for the stored positive new energy vehicle credits, and the validity period shall not exceed five years from the year of deposit." VII. Add one article as Article 33: "When the sum of positive new energy vehicle points generated and carried forward in a given year is less than 1.5 times the sum of negative fuel consumption points and negative new energy vehicle points after taking into account carry-over, transfer and offset, the points pool will release positive new energy vehicle points until the multiple reaches 1.5 times the above multiple. The release plan will be announced to the public before June 30th of each year. A corresponding number of points will be released to each enterprise's account based on their proportion of accumulated points in the points pool. Enterprises will then trade points and offset negative points. After the end of the annual points trading period, unused released positive points will be returned to the points pool."
VIII. Add one article as Article 34: "The Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Commerce, the General Administration of Customs, and the State Administration for Market Regulation will, based on industrial development and the needs of carbon emission management, study and establish a linkage mechanism with other carbon emission reduction systems in a timely manner." 9. Article 32 is amended to Article 36, and the first paragraph is amended to read: "The Ministry of Industry and Information Technology, together with the Ministry of Finance, the Ministry of Commerce, the General Administration of Customs, and the State Administration for Market Regulation, shall verify the average fuel consumption and new energy vehicle credits of passenger vehicle companies, as well as their implementation. Verification methods may include random inspections, regular inspections, or special inspections."

10. Article 34 is amended to Article 38, and the first paragraph is amended to read: "If a passenger vehicle company has any of the following circumstances, the Ministry of Industry and Information Technology and other departments shall issue a notification in accordance with their duties, and calculate the average fuel consumption and new energy vehicle credits based on the verified values. Depending on the severity of the circumstances, the company may be placed on the list of untrustworthy companies and be prohibited from transferring or trading credits:"
11. Article 36 is amended to Article 40, and the first paragraph is amended to read: "Passenger car companies' average fuel consumption and new energy vehicle credit management requirements are included in the entry requirements for passenger car manufacturers and their products. If a passenger car company has any of the following circumstances, before its negative credits are offset to zero, its new products whose fuel consumption does not meet the model fuel consumption target values ​​in the 'Passenger Car Fuel Consumption Evaluation Methods and Indicators' will not be included in the 'Announcement on Road Motor Vehicle Manufacturers and Products' or issued with compulsory product certification. The company will be suspended from submitting electronic information on passenger car product certificates or imported vehicle electronic information for products that do not meet the fuel consumption target values. Penalties may be imposed in accordance with the 'Automotive Industry Development Policy', 'Regulations on the Administration of Compulsory Product Certification' and other relevant regulations:" 12. Article 37 is amended to Article 41, and the first paragraph is amended to read: "The accounting year referred to in these Measures means the period from January 1 to December 31 of each year. For domestically produced passenger cars, the corresponding accounting year is determined based on the issuance date of the vehicle's factory certificate of conformity; for imported passenger cars, the corresponding accounting year is determined based on the release date of the customs declaration documents for vehicles with compulsory product certification."

13. Articles 31, 33, 35, 38, 39, and 40 are amended to become Articles 35, 37, 39, 42, 43, and 44, respectively.

Reprinted from Sina Auto

Email:
info@adtfm.com

Phone:
021-20532053

Address:
2nd Floor, No. 150 Jindian Road, Pudong New Area, Shanghai