China's Basic pension funds expected to invest in EV charging infrastructure

   Date:2015/09/29

Basic pension funds are expected to invest in the construction of EV charging infrastructure, though no practical action has been taken so far. According to the forthcoming Guideline on Speed Up the Construction of EV Charging Infrastructure(hereinafter as Guideline), “the capital investment of basic pension funds "has been referred as one of the most important capital resources in promoting the construction project.

During the policy briefing of the State Council hosted this morning, Zhajie Zheng, vice director of the National Energy Administration, said according to the Guideline passed by the standing committee of the State Council, an effective intelligent EV charging system with a capability to meet the charging needs of more than 5,000,000 EVs will be built by the year of 2020.

Kehua Lu, Vice Minister of the MOHURD, also informed that, in the future, every EV will be equipped with basic charging equipment while all parking spots in the residence area and no less than 10% of the parking spots in public area such as commercial areas, major public buildings and public parking lots, will be equipped with charging facilities.

According to Kai Ma, a member of the Political Bureau of the CPC Central Committee and vice-premier of the State Council, China Tower has good chance to win Chinese government’s trust and take a lead in this emerging market with full potential.

In the Guideline, the capital investment of basic pension funds is expected to function as one of the most important capital resources in the promoting the project. But according to the Measures for the Management of Basic Pension Funds, only up to 20% of the total net assets of the pension funds could be invested in major State projects, which mean the public shouldn’t raise their hopes high about the investment amount of the funds. For the time being, the Chinese government is still working on the details in allowing pension funds to enter stock market. Besides some pilot provinces as Guangzhou and ShanDong, other provinces are still sitting on the fence.

Source: gasgoo

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