China is charting a transformative path towards modernization, driven by bold reforms and a steadfast commitment to innovation. The conclusion of the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) on July 18 marks a significant milestone in this journey, setting the stage for continued development in the new era.
Empowering Innovation and Market Dynamics
The reform and opening-up policy has been instrumental in transitioning from theoretical exploration to practical innovation. Chinese President Xi Jinping emphasizes that while history follows its own laws, proactive engagement and innovation are key to steering its course. By understanding historical trends and seizing opportunities for change, China aims to contribute significantly to the advancement of human society.
In 2014, during a visit to SAIC's motor tech center in Shanghai, Xi highlighted the importance of developing products that meet diverse consumer needs. He specifically pointed out the pivotal role of new energy vehicles (NEVs) in strengthening China's position within the global automotive industry.
Over the past decade, China has implemented a series of policies to support the NEV sector, including car purchase subsidies and the expansion of charging infrastructure. These initiatives have been crucial in popularizing NEVs and fostering industry growth. From 2014 to the end of 2023, China's annual production and sales of NEVs surged from 78,500 and 74,800 units to an impressive 9.59 million and 9.5 million units, respectively. This remarkable growth, approximately 126-fold, has positioned China as the global leader in NEV production for nine consecutive years.
China's strategic focus on NEVs not only underscores its dedication to sustainable transportation but also highlights the nation's ability to drive large-scale industrial innovation. As the world grapples with environmental challenges, China's advancements in the NEV sector serve as a beacon of progress and a model for other nations.
Reference(s):
cgtn.com
