Two Departments Issue New Subsidy Guidelines for Electrification of Public Transit Buses

[Policy Update] The Ministry of Transport and the National Development and Reform Commission jointly issued detailed subsidy guidelines for new-energy public buses and battery replacements.

Core Focus: Targeted Subsidies Centered on Aging Vehicles and Retired Batteries

City buses registered before December 31, 2018, and power batteries that become out-of-warranty or fail to meet standards by the end of 2026, are the two primary targets of this subsidy program.

Strategic Foundation: Avoiding Blanket Subsidies, Enhancing Fiscal Efficiency

The policy establishes strict eligibility criteria while preserving local governments’ flexibility to tailor measures according to local conditions (“city-specific policies”), directly addressing pain points faced by public transit operators in fleet renewal.

Key Data Point: Ultra-Long-Term Special Treasury Bonds Provide Financial Backing

Supported by ultra-long-term special treasury bonds, the initiative provides targeted funding to advance the green and low-carbon transformation of public transportation and help the industry overcome critical challenges.