🇨🇳CHINA COMMERCE MINISTRY, ON INTENSE COMPETITION IN AUTO INDUSTRY: RECENTLY ORGANISED MEETING ATTENDED BY AUTO INDUSTRY ASSOCIATIONS, RESEARCH INSTITUTIONS, COMPANIES AND HEARD THEIR SUGGESTIONS. WILL STEP UP POLICY GUIDANCE ON AUTO CONSUMPTION MARKET. #CHINA #NEV #EV https://t.co/qsIylb6Bu9
China Plans To Address Overcompetition In The Automotive Sector, According To The Ministry Of Commerce (MOFCOM) 🚗🔧📉
CHINA TO RECTIFY EXCESSIVE COMPETITION IN AUTO INDUSTRY SAYS MOFCOM
China is accelerating efforts to promote innovation and the application of artificial intelligence (AI) following a recent government meeting focused on advancing the AI industry. Concurrently, the Ministry of Commerce (MOFCOM) has acknowledged intense competition within the country's automotive sector. To address this, MOFCOM recently convened a meeting with auto industry associations, research institutions, and companies to gather input on the challenges faced. The ministry announced plans to implement policy measures aimed at rectifying excessive competition and to enhance guidance on the automotive consumption market, particularly in new energy vehicles (NEVs) and electric vehicles (EVs).