China has said it will strengthen support for the country’s electrified vehicle industry as the sector increasingly faces trade restrictions from the European Union and the US, reports Bloomberg. The ministries of commerce, foreign affairs and customs as well as four other government agencies on Wednesday called EV exports a “key pillar” in optimizing China’s foreign trade.
They also published a set of guidelines that include steps such as better using international trade rules and engaging foreign governments to create an open and transparent environment for the electric car industry.
The nation’s automakers are also being encouraged by authorities to set up overseas research and development centers with local partners and officials called upon the financial industry in China to optimize credit and international transactions. No additional details about that monetary support was given.