(Yicai Global) Feb. 7 -- Central and regional Chinese governments are striving to aid a shift to new energy vehicles after a more than decade-long policy of purchasing subsidies expired.

From 2023 to 2025, China will electrify vehicles in seven areas, including airport vehicles, city buses, sanitation vehicles, and taxis, the industry and information technology ministry said in a statement recently. The push is aimed at cushioning the impact of the termination of China's 13-year-old NEV subsidy policy in December.

Several regions have recently introduced policies to boost electric vehicle consumption. Jiangsu province's Wuxi has issued CNY12 million (USD1.8 million) of NEV coupons and gives subsidies as high as CNY3,000 (USD441) per vehicle. Southwestern China's Yunnan said it will continue to work hard on building charging facilities while expanding NEV use in rural areas. The northern province of Shanxi proposed activating the second-hand NEV market and optimizing the environment for NEV owners.

The world's biggest NEV market is expected to grow this year, according to Guo Shougang, deputy director-general of a department at the MIIT. Passenger NEV sales are predicted to reach nine million units in 2023, with a penetration rate of 39 percent, according to China International Capital.

In 2022, China’s NEV sales tallied 6.9 million units, ranking first worldwide for eight consecutive years with a penetration rate of 25.6 percent.

Editor: Emmi Laine, Xiao Yi