By Yuling Chen, EDITOR

The Second Session of the 13th National People’s Congress started on the morning of March 5 during China's two sessions. Premier Li Keqiang said in the government work report that the preferential policies on the purchase of new energy vehicles will continue to maintain steady automobile consumption.

New energy vehicles produced in Chongqing, China (Photo by Yin Jing)

Chongqing local enterprises embrace the policy

Local manufacturers of new-energy vehicles in Chongqing embrace this policy. They expressed that it would enable users to experience products with lower expenses. Moreover, benefited by it, vehicle enterprises will establish brand recognition and expand the influence in a better way.

In 2018, the production and sales volumes of domestic cars met negative growth trend for the first time within the 28 years. However, the volumes of production and sales of new-energy vehicles were respectively 1.27 million and 1.256 million with year-on-year growth rates 59.9% and 61.7%. The accumulative number of promoted cars had exceeded 3 million. These achievements make Chongqing the largest new-energy vehicle market around the world for four successive years.

The strong growth momentum demonstrates that the new-energy vehicles have followed the development of the times. It is an inevitable result thanks to scientific-technical progress and a necessary selection for vehicle consumption upgrading.

Chongqing Sokon Industry Group Stock Co., Ltd. has expressed its opinions in this regard. “Continuing the preferential purchase policy for new-energy vehicles is an important signal that China will stabilize the vehicle consumption.” 

On one hand, it will promote the transformation and upgrading of the vehicle industry and stimulate enterprises to enhance innovation-driven ability. In doing this, they will better handle the market competition after the “fallen off” subsidies for new-energy vehicles. On the other hand, it will help release the domestic demand potential in China and stabilize vehicle consumption. Then, it will bring a broader market expectation for new-energy vehicle enterprises.

Source: CQCB