China's new energy vehicle (NEV) sector is experiencing rapid development, with significant advancements in production, sales and innovation efforts.
On Thursday, the country's annual NEV production surpassed 10 million for the first time, making China the first country globally to achieve this milestone.
In August, domestic sales of NEVs outpaced those of fuel vehicles for the first time, and NEVs have been accounting for over 50 percent of the auto market for three consecutive months since then.
China is leading the world in the research, development and industrial application of power batteries, establishing the world's largest charging infrastructure system with the widest coverage and the most comprehensive service for vehicles, said experts.
The country's continuous enhancement of NEV industry chain has enabled enterprises to demonstrate robust international competitiveness in cost control and rapid market response.
"A series of supporting policies have fostered a favorable development environment for the industry. Enterprises have been overcoming technical challenges and improving product performance, earning recognition from consumers. China's commitment to global division of labor and cooperation, and mutual advancement has contributed to the establishment of a high-quality and efficient international industrial and supply chain," said Xin Guobin, vice minister of industry and information technology.
At the beginning of this year, China Association of Automobile Manufacturers predicted that the annual production and sales of NEVs in China would reach 11.5 million units. With a month and a half remaining in the year, automotive sector experts projected that China's total NEV output will exceed 12 million units by the year-end. "The scale and strength of China's NEV industry will lay a solid foundation and create new strategic opportunities for the country's automotive industry to lead in intelligent development," said Fu Bingfeng, executive vice president of China Association of Automobile Manufacturers.
China started tracking NEV sales and production output data in 2013, with 18,000 units produced that year. By 2016, China's NEV output exceeded 500,000 units, with Chinese brands such as BYD, Geely and BAIC ranking among the top 10 in global new energy passenger vehicle sales. By September 2020, cumulative NEV sales had exceeded 5 million.
In 2023, China produced 9.587 million NEVs and sold 9.495 million units.
China's NEV sector developing rapidly: data
Officials from across the globe are anticipating Chinese President Xi Jinping's visit to Peru, saying the visit will enhance China-Peru relations and provide new momentum for cooperation in the Asia-Pacific region.
President Xi's visit to Peru highlights the high level of relations between the two countries, and the visit will create new opportunities for Peru-China cooperation and bring greater benefits to the two countries and their people, said Peruvian officials.
"We believe that investment in critical areas in Peru such as health and education is very important. I am sure that China will be able to provide its knowledge and expertise in areas such as hospital construction and hospital equipment -- always with high technology," said Ernesto Bustamante, Congressman of the Republic of Peru.
Officials are also looking forward to hearing President Xi's proposals on deepening Asia-Pacific regional cooperation, promoting global economic recovery and enhancing global governance.
"Whatever President Xi says is really encapsulated, if you analyze what we have in the Putrajaya Vision, in exactly those things. Leaders, their role is to encourage this aspiration, right? But for us at the policy-making level, for us it's translating that into reality," said Rebecca Fatima Sta Maria, executive director of the APEC Secretariat.
The Putrajaya Vision 2040, endorsed during the 2020 APEC meeting in Malaysia, sets a long-term goal to create a more prosperous and harmonious Asia-Pacific.
"I believe that at every APEC meeting, China, under President Xi Jinping's leadership, draws significant attention. This is because President Xi is a very visionary leader who has put forward many valuable development concepts, especially the free trade he advocates, which is the core of APEC," said Chip Jitniyom, Vice Chairman of the Thai Senate Foreign Affairs Committee.
Other officials stressed China's role in advancing globalization and multipolarity.
"China has a very rare and unique opportunity to make a positive impact not only with its economic power, investment potential and trade potential, but also by offering positive ideas to foster regional development. As China is a powerful country capable of advocating fair and equitable globalization and multipolarity that is orderly and not detrimental to regional stability for the benefit of the Global South, the importance of the APEC lies in its ability to bring together all countries -- regardless of their stage of development or modernization -- around the same table," said Alexander Romanov, Director of the Primakov Institute of World Economy and International Relations, Russian Academy of Sciences.
Chinese President Xi Jinping arrived in Peru on Thursday to attend the 31st APEC Economic Leaders' Meeting and pay a state visit to the Latin American country at the invitation of Peruvian President Dina Boluarte.
The 31st APEC Economic Leaders' Meeting will be held on Friday and Saturday in Peru's capital Lima.
After attending the APEC meeting and completing his state visit to Peru, President Xi will travel to Rio de Janeiro from Nov 17 to 21 to attend the 19th G20 Summit and pay a state visit to Brazil at the invitation of Brazilian President Luiz Inacio Lula da Silva.
Officials anticipate Xi's visit to Peru
