Chinese Foreign Minister Wang Yi met with his Papua New Guinean counterpart Justin Tkatchenko in Port Moresby, capital of Papua New Guinea, on Saturday.
The two foreign ministers witnessed the signing of memorandums of understanding after their meeting, all reportedly centered around economic cooperation. China is Papua New Guinea's biggest trading partner, accounting for a quarter of all exports and imports.
Wang arrived in Port Moresby on Saturday afternoon for a two-day visit. This is his third visit to the country.
Wang's visit to the country will also include a brief meeting with Prime Minister of Papua New Guinea James Marape.
Chinese, Papua New Guinean FMs meet on economic ties
Leading traditional automakers and China's emerging new energy vehicle (NEV) manufacturers are developing products that are more suitable for the Chinese consumer market, with companies vying to debut their latest offerings at the ongoing auto show in Beijing.
Running from April 25 to May 4, this year's Auto China, also known as the Beijing Auto Show, serves as a testament to China's leading position in the NEV market.
With a strong focus on NEVs, Chinese carmakers are driving competition and pushing the boundaries of what electric vehicles can offer.
German auto giant Volkswagen just launched its new ID.UX all-electric vehicle models at the auto show.
"It is truly a reflection of our commitment to delivering electrifying new choices and exceptional digital experiences for our customers in China. In today's ICV (intelligent connected vehicles) era, consumers seek immersive, emotional experiences. Every ID.UX model, as you can see behind me, features a golden 'VW' logo, symbolizing our dedication to innovation, quality and uniqueness. We are delivering on our 'in China, for China' promise to customers at 'China speed'," said Erwin Gabardi, Volkswagen (AnHui) Automotive Company Limited.
Domestic NEV makers Xpeng and NIO unveiled new models at the auto show, which cater to a more budget-conscious market segment.
"Onvo, our new subsidiary, has a primary focus on the family market. We want to create the finest SUV for families. We are confident in the performance of our first model, the L60. With our intelligent technology and extensive charging and battery swapping network, we believe it will surpass expectations," said Li Bin, founder and CEO of NIO.
According to experts, the introduction of models that target different market segments is seen as a positive factor contributing to healthy competition in the NEV market.
"In an era of new technology development and diverse consumer needs, auto companies are placing significant emphasis on targeting specific segments to cater to the differentiated demands of consumers. This approach proves beneficial for promoting the automobile industry," said Cui Dongshu, secretary general of the China Passenger Car Association.
Major car brands showcase new NEV models at Beijing Auto Show
