Investigation on Update of China's Dual-credit Regulation Regarding CAFC and NEV Credits

China's dual-credit regulation introduced by Ministry of Industry and Information Technology of China is a big innovation attempt to promote the development of the new energy vehicles and improve the fuel efficiency of the traditional-fuel vehicle simultaneously. Since the implementation of this regulation, it has a significant impact on China's automotive industry trends and auto company's business decisions. As the original edition will expire in 2020, the update edition of this regulation for 2021 and after has been issued on June. 15th, 2020. In this paper, the modifications of this regulation under the lasted update edition have been discussed in detail including the variation of calculation method of NEV credits and its management strategies. In additions, the effects of this update on the NEV credits calculation and management have also been investigated.