(Yicai Global) Oct. 23 -- The Chinese government is investigating whether or not there is a surplus in the nation's new-energy vehicle capacity, Caixin News reported.

Song Qiuling, deputy director of the Ministry of Finance's Economic Construction Division, mentioned the investigation at a conference on fuel consumption and new-energy vehicles, but did not say what measures would be taken if an excess is found.

China began to encourage the development of new-energy vehicles in 2009, and offered up financial subsidies from 2010. With the subsidies and supporting policies in place, Chinese automakers had sold over a million NEVs by the end of 2016, more than any other country.