Major auto shows have been held in many Chinese cities for the ongoing National Day holiday, attracting a lot of interested customers to sign orders for new energy vehicles with strong discounts provided by car companies and the national trade-in subsidies.
The China Motor Show 2024 is being held from Sept 29 to 0ct 5 at the National Convention and Exhibition Center in north China's Tianjin Municipality. The exhibition was bustling and hustling on Tuesday, the first day of the week-long National Day holiday.
The seven-day auto show has brought together nearly 100 car brands from across China and all over the world. About half of the vehicles on display are new energy powered. New products and technologies featuring the concept of "green and energy saving" are particularly attractive to possible buyers.
China has been promoting a nationwide trade-in program to support consumers to replace old cars that are high in energy consumption, emissions and safety risks with new energy vehicles or energy-saving ones.
The country rolled out a new round of trade-in policies to further raise subsidies for purchasing passenger cars in late August. Subsidy for trade-ins of new energy passenger vehicles has doubled from 10,000 yuan (about 1,418 U.S. dollars) -- a figure stipulated in an April document -- to 20,000 yuan, and subsidy for trade-ins of fuel passenger vehicles has also risen from 7,000 yuan to 15,000 yuan.
Posters introducing the trade-in policies can be seen everywhere at the motor show in Tianjin. If the buyers order on the spot, they can enjoy both reduced prices and state subsidies.
"We have targeted a car online. There is a motor show right here in Tianjin during the National Day holiday, so we especially come here to learn more about the car. It happened that the country has expanded the trade-in subsidies, so we decide to buy it here today as it is much cheaper," said Sun Mingyue, a local.
The six-day 2024 International Automobile Trade Fair was kicked off on Sunday in Shenyang City, northeast China's Liaoning Province. The event has seen the launch of nearly 30 new car models.
New energy vehicles have occupied most of the booths and also recorded more trading orders at the event.
"New energy vehicles give me a strong sense of science and technology, very cool. And they have lower costs. The government has subsidies, and the car companies have big discounts for each model. So I have placed a decisive order for a car that I like and have a pretty appearance," said Li Man, a local resident.
Trade-in subsidies, benefits from car companies and special discounts at the exhibition have combined to attract more than 450,000 visitors until Friday, with the transaction value exceeding 2.1 billion yuan (about 298 million U.S. dollars).
New energy vehicles highly favored at auto shows across China
The Chinese mainland is always the best destination for investment and business startups by investors and firms from the Taiwan region, a spokeswoman for the State Council Taiwan Affairs Office said on Wednesday, lashing out at the Democratic Progressive Party (DPP) authorities in Taiwan for fabricating lies about cross-Strait trade and business operation.
Speaking at a press conference in Beijing, Zhu Fenglian, the spokeswoman, said that the DPP authorities, out of their separatist nature, habitually spread rumors in an effort to disrupt cross-Strait cooperation and exchange, but their lies cannot withstand even the slightest scrutiny of facts.
"Against the backdrop of an external environment fraught with changes and turmoil, the mainland's advantages are becoming more outstanding, as it has a huge market, broad market prospects, stable policy expectations, and a good security situation. The mainland is always the best destination for investment and business startups by all Taiwan investors and Taiwan enterprises. In the first quarter of this year, the cross-Strait trade value reached 70.56 billion U.S. dollars, a year-on-year increase of 15.2 percent," Zhu said.
"The investment from the Taiwan region in actual use by the mainland reached 1.26 billion U.S. dollars, growing by 127.1 percent year on year. In the three-month period, there were 1,592 more enterprises newly established in the mainland with investment from Taiwan. More and more compatriots in Taiwan and investors from the region are taking concrete actions to prove that the mainland is always the best destination for investment and business startups by all Taiwan investors," she said.
Zhu added that despite increasing external uncertainty, the mainland is confident in maintaining economic development and will continue to improve its business environment for investors from Taiwan.
"Facing U.S. abuse of tariffs, the mainland immediately took resolute and strong countermeasures, demonstrating our unwavering determination to safeguard national development interests, international fairness, justice, orders, and rules, and also reflecting our confidence in maintaining economic development. We will study and address the issues and difficulties faced by the investors and enterprises from Taiwan, treat them as equals, strengthen supports for them, boost cross-Strait industrial chain and supply chain integration, support enterprises funded by investment from Taiwan in participating in the implementation of major national strategies, help enterprises from Taiwan to transform and upgrade, expand domestic market share, integrate into the new development pattern, and achieve high-quality development," said the spokeswoman.
"We also hope that the investors and the enterprises from Taiwan will strengthen confidence, adopt a long-term perspective, actively participate in cross-Strait communication and cooperation, work together with us to fend off external risks and challenges, and jointly promote the economy of the Chinese nation," she said.
Mainland remains best destination for investment, business startups by Taiwan investors: spokeswoman
