China creates greater space for industrial cooperation

At the 90th International Forum on China Reform, Chi Fulin, president of the China Institute for Reform and Development, discussed the export proportions of automobile production across various countries. He highlighted that in 2023, China's new energy vehicle exports accounted for only 12.5% of its total production, while Germany reached 80%, the US 70% and Japan 66%. He believed that China's proactive promotion of industrial transformation and market opening would not lead to overcapacity, but rather create greater space for industrial cooperation.