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According to the news from Chinese government shows that it reiterates promotion of the sustainable and stable development of the auto sector with enhanced innovation, sector restructuring and a boost to auto parts manufacturing.
Auto is an important pillar industry of the Chinese economy and it could significantly expand employment and boost spending. Government asks auto makers to invest more on research to develop new models, including new-energy auto, hybrid auto and pure electric auto.
Chinese government also asks auto parts makers to improve competitiveness for a huge market that is expected to see 12 million autos come off production lines this year, which will push the total number of autos in the country up to 75 million.