星期四, 19 6 月, 2025
Home PV News Asia China to curb auto production capacity and promote new energy car development

China to curb auto production capacity and promote new energy car development

Bloomberg reported that China pared the nation economic growth target to 7.5% from an 8% goal in place since 2005, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption.


According to a state-of-the-nation speech that Premier Mr Wen Jiabao delivered, officials will also aim for inflation of about 4% this year unchanged from the 2011 goal. Margaret Conley reports on Bloomberg Television's "First Look" with Caroline Hyde.


China this year removed preferential treatment for foreign automakers on their Chinese plants as part of measures to prevent overcapacity in the world's largest vehicle market. Automobile sales in the Asian nation may be having their worst start in seven years as a slowing economy and record gasoline prices keep consumers away from dealerships.


Mr Li Shufu chairman of Zhejiang Geely Holding Group Co said "The industry can't just pursue capacity increase for its own sake. We need to improve the use of existing capacity and upgrade our technology."


The auto industry is among four industries listed in the government report where increases in capacity should be curbed. The other three are steelmaking, shipbuilding and cement production.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

RWE 7.5MW/11MWh battery energy storage start commercial operation in Netherlands

Power generation firm RWE has put a BESS in the Netherlands into commercial operation, its first that is capable of providing inertia to the...

Gurīn Energy selects Saft’s battery energy storage system for first Japanese project

Saft, a subsidiary of TotalEnergies, has been selected by leading Asian renewable energy developer Gurīn Energy to supply a battery energy storage system (BESS)...

Swiss 1.6 GWh redox flow storage project starts to build

Flexbase Group has begun construction on what could become one of Europe’s largest flow battery storage installations, breaking ground on an 800 MW/1.6 GWh...

Analysis: UK’s solar power surges 42% after sunniest spring on record

The UK’s solar farms and rooftops generated more electricity than ever before in the first five months of 2025, as the country enjoyed its...