National Federation of Industry and Commerce Automobile Dealer Association proposes to postpone the implementation of China’s National VI emission standard to January 1, 2024. Trust business classification reform is about to be implemented and regulators convene a high-quality development seminar with seven trust companies. The National Energy Administration and three other departments are organizing pilot counties for rural energy revolution.
– The National Federation of Industry and Commerce (全国工商联) Automobile Dealers Association suggests delaying the implementation of China’s national VI-B emission standard to January 1, 2024. The VI-B standard, which aims to limit the amount of harmful emissions from new vehicles, was previously scheduled to start on July 1, 2023. The association may have concerns about the readiness or cost-effectiveness of adopting the new standard, given the challenges faced by the auto industry recently.
– China’s trust industry is preparing for a new regulatory framework that classifies trust products according to their risk level, and sets higher standards for asset quality and disclosure. Seven trust companies were invited to a symposium on high-quality development by regulators, possibly to discuss the progress and challenges of implementing the reform. The reform aims to enhance the stability and transparency of the trust sector, which has faced some defaults and scandals in the past.
– The National Energy Administration (国家能源局) and three other departments will organize pilot counties to promote the rural energy revolution. This initiative may involve exploring new forms of clean energy sources, improving energy efficiency, and enhancing the energy infrastructure in rural areas, where many people still rely on traditional fuels or have limited access to modern energy services. The pilot counties may serve as models for broader implementation of energy transition policies in the countryside.