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Economy

China to slash EV subsidies 30% next year

As industry grows, focus turns to competitiveness

BEIJING -- The Chinese government is expected to reduce subsidies on electric-vehicle purchases by about a third in 2019, possibly increasing downward pressure on an economy already losing momentum.

China plans to completely end the subsidies in 2020 under a phaseout that began last year, with an eye toward encouraging automakers to cut costs and become more competitive.

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