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China recovers $333 mln from firms cheating green car subsidies- finmin
March 7, 2017 / 1:54 AM / 6 months ago

China recovers $333 mln from firms cheating green car subsidies- finmin

BEIJING, March 7 (Reuters) - China has recovered 2.3 billion yuan ($333 million) from companies that cheated a subsidy program to promote green energy cars, the country’s Finance Minister Xiao Jie said on Tuesday.

Last year, the finance ministry concluded its investigation into the cheating scandal, with dozens of companies eventually being named for wrongfully obtaining subsidies. ($1 = 6.8985 Chinese yuan renminbi) (Reporting by Judy Hua and Jake Spring; Editing by Richard Pullin)

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