BAIC leverages on reform gains for sustainable development

State-owned auto groups in China used to sit back and collect the easy money from joint-venture brands, but as domestic demand for auto products diversified and their ambitions grew, international markets, internet-connected and new energy vehicles have become greener pastures.

Among them, Beijing Automotive Industry Corp, one of China's five major automakers by sales revenue, plans to deploy more resources into the research and development of electrification, artificial intelligence, the internet of things and the sharing economy to further compete with other established rivals both at home and abroad.

Many opportunities have been generated by China's reform and opening-up policy, industrial and consumption upgrading, favorable policies to improve environment via new energy vehicles, as well as the tangible development of the Belt and Road Initiative and the comprehensive trade platform of the China International Import Expo, said Xu Heyi, chairman of BAIC.