Recently, the State Council Information Office held a press conference introducing developments in industry and information technology in the first three quarters of 2024. Zhao Zhiguo, spokesperson and chief engineer of the Ministry of Industry and Information Technology, stated that China is proactively addressing trade barriers such as anti-subsidy investigations and high tariffs. The government is committed to providing increased support and convenience for automakers seeking to expand overseas, in areas such as investment and management.
According to Zhao Zhiguo, China's automotive industry has performed well over the first three quarters. The overall auto industry has maintained steady growth, with its added value increasing by 7.9% year-on-year. During this period, production and sales reached 21.47 million and 21.57 million vehicles, respectively, marking year-on-year growth of 1.9% and 2.4%. Total vehicle exports reached 4.312 million units, up 27.3% year-on-year. From January to August, the industry's revenue and total profit increased by 3.2% and 3%, respectively. The new energy vehicle (NEV) sector also saw promising growth, with production and sales hitting 8.316 million and 8.32 million units, respectively, reflecting a 31.7% and 32.5% year-on-year increase. In recent months, the share of NEV passenger vehicle sales has surpassed 50%, marking a significant milestone. NEV exports also rose to 928,000 units, up 12.5% year-on-year.
"However, the automotive industry still faces challenges such as weak domestic demand and growing uncertainties in overseas exports," Zhao noted. "Moving forward, the Ministry of Industry and Information Technology will work in coordination with relevant departments to enhance policy support and promote high-quality development in the sector."
Expanding Vehicle Consumption Through Multiple Measures: Efforts will focus on implementing policies that encourage vehicle trade-ins, as well as tax incentives on vehicle purchases and car ownership. New energy vehicles will continue to be promoted in rural areas, a series of fully electric vehicle pilot programs for public use will be launched, and guidance on NEV battery-swapping models will be developed to stimulate broader vehicle consumption.
Optimizing Vehicle Production Access and Management Policies: The ministry will push for the release of the "Motor Vehicle Production Access Management Regulations," establishing a dynamic "in-and-out" management mechanism. Road vehicle product access self-inspections will be piloted to further energize market participants. Group management practices will be explored to enhance corporate quality and efficiency, and businesses will be encouraged to focus on long-term growth through technology upgrades, product iterations, and model innovation to continuously improve core competitiveness and foster a supportive industry ecosystem.
Supporting Technological Innovation: Through initiatives such as high-quality development programs and national key R&D plans, China will continue to advance key technology development for power battery materials, automotive chips, and more. Trials for intelligent connected vehicle access and operations, as well as "vehicle-road-cloud integration" initiatives, will be expanded to steadily advance the commercialization of autonomous driving technologies.
Enhancing Support for International Business Expansion: China is actively responding to anti-subsidy investigations and high tariffs by providing greater support in investment and management for automakers looking to go global. The ministry is also working to align standards and rules for areas like autonomous driving and carbon accounting, aiming to create a favorable environment for global growth.
