Research On The Effect Of China's Fiscal Subsidies For New Energy Vehicles

Development of New Energy Automotive Industry has become a national strategy.State Council issued energy-saving and new energy vehicle development plan(2012-2020)on July 9,2012,after which the relevant central ministries and local governments introduced a large number of supportive policies,ranging from purchase subsidy,tax relief,research and development support,consumer promotions,infrastructure construction and standards foundation,and other areas.Thus the New Energy Automotive Industry chain received a large number of fiscal subsidies.These subsidies,to some extent,contributed to China's new energy automotive industry's explosive growth.But too extensive fiscal subsidies also bring a variety of negative issues,such as the capacity for rapid expansion with while lack of core technology,new energy automobile production and sales data imbalance,all of which exposes problem of cheat for more fiscal subsidies.Clearly,the government is also concerned about the adverse impact of the new energy vehicles fiscal subsidies.From the beginning of 2016,we have begun to implement a new energy car allowance back slope mechanism.Can be expected,this is only the beginning of a new energy vehicles subsidy policy adjustment,and more policy adjustments will be expected.Based on the above background,this paper attempts to answer the following research questions:(1)why the current new energy vehicles fiscal subsidies have limited role to private consumers market?(2)Why large-scale "cheat up" phenomenon exists in the new energy vehicles fiscal subsidies?(3)How to evaluate policy affects of new energy vehicles fiscal subsidies?(4)How to optimize fiscal subsidies for new energy vehicles in order to better achieve the policy objectives?The main contents of this paper are as follows:1.Study the basic ideas to analysis how subsidies effect new energy cars.Factors on the one hand,new energy vehicles as a consumer product,the impact of consumer choice in addition to the price,there are many other factors;on the other hand,new energy automotive industry is a strategic emerging industries,and has a long industrial chain.Therefore,compared with the general fiscal subsidies,subsidies for new energy vehicles have a unique complexity.Theoretical analysis of existing subsidies limitations on new energy vehicles fiscal subsidies,respectively,analyze the demand effect from the consumer's point of view,from a producer's point of view of supply effect,the managers(government)point of view of policy effects,can be a more comprehensive and accurate analytical effect of fiscal subsidies for new energy vehicles.2.The demand effect of new energy vehicles subsidies analysis.(1)The impact of new energy automobile consumption number of factors that can be summarized as price and preferences,other factors that can indirectly affect the number of preference of new energy vehicles consumption by influencing prices.(2)Price is the largest factor affecting sales;price changes significantly affect the number of sales.Preference is a comprehensive factor,including the purchase of the city,charging facilities construction,security,and so on.Key(3)to stimulate private consumption of new energy vehicles is to improve the cost of new energy vehicles,while strengthening infrastructure construction,gradually changing consumer preferences,enhanced price elasticity of demand of consumers.3.Effect of the energy supply automotive financial subsidy analysis.(1)In the case of new energy subsidies,There is a certain amount of information asymmetry between the government and enterprises,which will have an important effect on the subsidy effect.(2)Does not necessarily increase fiscal subsidies to new energy automobile enterprises R & D investment,but also may reduce the R & D investmentto a certain extent.When companies have cheat up behavior,the role of government subsidies for R & D enterprise weaker.(3)When the government subsidies while providing subsidies for research and development and product subsidies,companies will be able to use their information advantage,exaggerated product R & D investment and investment in order to gain more government subsidies.When the government reduces or cancel subsidies on products,but can reduce cheat up the situation,promote enterprise technology research and development.4.The policy effects of new energy vehicles subsidies analysis.(1)Government subsidies for new energy vehicles major efforts,to a certain extent,encouraged in the early stages of development of new energy automotive industry,so that the rapid expansion of China's new energy automotive industry scale,effectively resolve the market failure.(2)financial subsidy has also brought a series of negative effects: on the one hand,excessive subsidies easily lead to a large number of low excess capacity,resulting in resource consumption and waste caused;on the other hand,extensive subsidies designed to induce a lot of cheat up behavior,fiscal subsidies for money is not high;in addition,because the market mechanism in government subsidies for the design was not able to guide enterprises to innovation.(3)At present,China is still dominated by thermal power energy consumption structure,policies to encourage the use of a large battery of local protectionism and other factors affect the policy effects of fiscal subsidies.Moreover,the international crude oil prices continue to decline to a certain extent also increased the cost of new energy vehicles policy fiscal subsidies.5.The optimal path of new energy vehicles fiscal subsidies.(1)Subsidies optimization objectives,the policy objectives of the new energy vehicles fiscal subsidies from doing "big" industry into doing "strong" industry.(2)Optimize the focus of subsidies,subsidies to strengthen the construction of infrastructure facilities on consumer subsidies on production subsidies to focus on technology research anddevelopment subsidies.(3)To optimize the size of subsidies and raise the subsidy standards,and gradually reduce the corporate R & D subsidies,and abolish subsidies on products.(4)optimize the way of subsidies,in order to cross-subsidies for natural slope retreat,to avoid duplication of subsidies,and to consider new energy vehicles to optimize the tax structure.(5)optimize the regulation of subsidies,strengthen the system construction,improve the regulatory measures and open the market regulation.