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BRIEF-Xiamen King Long Motor punished for violating rules on green car subsidies
October 12, 2016 / 11:47 AM / a year ago

BRIEF-Xiamen King Long Motor punished for violating rules on green car subsidies

Oct 12 (Reuters) - Xiamen King Long Motor Group Co Ltd

* Says it is fined 259.6 million yuan ($38.93 million) for violating rules on green car subsidies

* Says Ministry of Finance will recover 519.2 million yuan subsidy the company received in 2015, and have its 2016 subsidy qualifications revoked

Source text in Chinese: bit.ly/2e8ThAn

Further company coverage: ($1 = 6.6685 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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