Shanghai (ZXZC)- China's four government departments including the Ministry of Industry and Information Technology (MIIT) and the Ministry of Commerce jointly announced the 2017 dual-credit calculation results of passenger vehicle manufacturers in China, alongside the official launch of dual-credit transaction platform in passenger vehicles on July 2. Here, the dual credits refer to the corporate average fuel consumption credits (CAFC) and new-energy vehicle (NEV) credit.

The dual-credit scheme, abbreviated from the Management Regulations for CAFC and NEV Credits of Passenger Vehicle Manufacturers, was issued in September, 2017 and was implemented officially on Apr. 1, 2018. 

According to the 2017 dual-credit calculation results of passenger vehicle manufacturers, 130 passenger vehicle manufacturers produced/imported a total of  24.69 million passenger vehicles (including new energy passenger vehicles (PV), but exclude exported PVs) in 2017. Automakers generated positive fuel consumption credits of 12.3814 million, negative fuel consumption credits of about 1.689 million and positive NEV credits of about 1.7932 million.

Specifically, 56 automakers were incapable to reach the average fuel consumption standard because they generated negative fuel consumption credits. 74 enterprises like BYD and Geely Auto reached the average fuel consumption standard.