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Any company making more than 30,000 traditional cars in a year will need to comply with the requirement for NEV production.

Ant Financial is banking on its 520 million users, who are adept at managing wealth via internet channels, to promote such products. The service uses consumer analytics to recommend the most suitable funds for each user, which are calculated based on previous investments made through the platform and a survey filled out during the sign-up phase, as mandated by regulators.

Another measure is to accelerate the pace of checking and releasing imported equipment for production and raw materials, the GAC said.

Apart from economic affairs and urban and rural development, the State Council also has the function and power of directing and administering ecological advancement, according to a proposed change to a clause under Article 89.

Anne Hillerman