China sets 2030 goal to become world automotive power in new five-year plan
China has for the first time included the goal of "entering the ranks of world automotive powers" in an industrial plan, the 15th Five-Year Plan for Intelligent Connected New Energy Vehicles, released by nine ministries. The plan identifies three key battles: achieving self-reliance in core technologies like chips and operating systems, addressing overcapacity and low profit margins, and shifting from product exports to global brand building and international standard-setting.
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China's Auto Industry Faces Three Major Battles to Become a World Power by 2030
China has for the first time included the goal of 'entering the ranks of world automobile powers' in an industrial plan, the '15th Five-Year Plan' for intelligent connected new energy vehicles, released by nine ministries including the Ministry of Industry and Information Technology. The article analyzes that achieving this status requires winning three key battles: first, achieving self-reliance in core technologies such as operating systems, automotive chips, and industrial software; second, addressing industry overcapacity and 'involution' through capacity controls and mergers, as current capacity utilization is only about 70% and profit margins have fallen to 3.8%; third, moving beyond product exports to build global brands and influence international standards, aiming to have several Chinese companies among the global top 10 in sales and top 100 in parts. The plan targets 2025 auto exports of 8.32 million vehicles but emphasizes the need for brand power and local operations in Western markets.
Read sourceChina's Auto Industry Must Win Several Hard Battles to Become a Global Power
According to an article in Economic Daily on September 22, China's Ministry of Industry and Information Technology and eight other departments recently released the '15th Five-Year Plan for the Development of Intelligent Connected New Energy Vehicles.' This marks the first time that 'entering the ranks of world automobile powers' has been written into an industrial plan. The article notes that the plan uses the phrase 'entering the ranks' rather than 'building a world automobile power,' a restrained but meaningful choice. It argues that to transition from a large automobile country to a strong one, China's auto industry must win several hard battles: first, a battle to conquer core underlying technologies; second, a battle to regulate industrial order and 'anti-involution'; and third, a battle for globalization through a 'system going global' strategy.
China's Auto Industry Must Win Several Hard Battles to Become a World Power
According to a September 22 article on Jin10, China's Ministry of Industry and Information Technology and eight other departments recently released the '15th Five-Year Plan for the Development of Intelligent Connected New Energy Vehicles.' This marks the first time that 'entering the ranks of world automotive powers' has been written into an industrial plan. The article notes that the wording is deliberately restrained, using 'enter the ranks' rather than 'build a complete automotive power,' which carries significant meaning. To transition from a large automotive country to a strong one, China's auto industry must win several hard battles. First, a battle to conquer underlying core technologies. Second, a battle to regulate industrial order and 'reverse involution' (excessive competition). Third, a battle for globalized 'systematic overseas expansion.' The analysis attributes these challenges to the broader context of China's automotive ambitions.
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China Must Win Several Hard Battles to Become a World Automotive Power
An editorial by Jin Guanping in the Economic Daily analyzes China's path from a large automotive producer to a world automotive power, following the release of the 'Fifteenth Five-Year Plan' for intelligent connected new energy vehicles by nine ministries. The plan sets a target for China to 'enter the ranks of world automotive powers' by 2030, a deliberately modest phrasing. The article identifies three key challenges: achieving self-sufficiency in core technologies such as operating systems, chips, and industrial software; curbing industry overcapacity and 'involution' through capacity controls and mergers, as the sector's capacity utilization is only 70% and profit margins have fallen to 3.8%; and shifting from product exports to a global 'system' strategy involving brand building, local operations, and participation in international standard-setting. The plan aims to cultivate several Chinese automakers among the global top ten in sales and top 100 parts suppliers. The author argues that becoming a true automotive power requires global recognition of comprehensive strength in technology, supply chain, brands, and international influence.
Read sourceChina's Auto Industry Must Win Several Hard Battles to Become a Global Power by 2030
An article from China's Economic Daily analyzes the challenges facing China's automotive industry as it aims to become a world automotive power by 2030, following the release of a new five-year plan by nine government ministries. The plan, titled the '15th Five-Year Plan for Intelligent Connected New Energy Vehicles,' marks the first time 'entering the ranks of world automotive powers' has been written into an industrial plan. The article notes that while China leads globally in new energy vehicle sales (16.49 million units annually) and produces over 70% of the world's batteries and key materials, it still faces three major battles: achieving self-sufficiency in core technologies like chips and operating systems; regulating industry overcapacity and ending price wars, with capacity utilization at only 70% and profit margins at 3.8%; and moving from product export to global brand building, including entering Western markets and setting international standards. The plan aims to cultivate several global top-10 automakers and top-100 parts suppliers.
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