ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Chinese companies, both private and state-owned, continue to benefit from generous government subsidies and grants: In the case of electric vehicle maker BYD, state support in 2018 was nearly equal to the company's bottom line.   © Reuters
The Big Story

For some Chinese companies, generous state subsidies make up for losses

Electric vehicle makers weather tough year thanks to government largesse

KENJI KAWASE, Nikkei Asian Review chief business news correspondent | China

HONG KONG/TOKYO -- For the Chinese auto industry, 2018 was a triple whammy.

Wang Chuanfu, founder of electric car and battery maker BYD, neatly summed up the industry's problems in the company's latest annual report: "international trade friction, slowing macroeconomic growth and reduction in tax incentives for new energy vehicle buyers."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more