Chinese car marques eye highly complementary European market: industry insiders

The car market in Europe, highly complementary to Chinese car market, makes an attractive and challenging strategic choice for Chinese automobile companies which aim to continue their successes, some industry insiders believe.

In a panel discussion hosted by China Central Television (CCTV), experts and industry insiders talked about the situation of Chinese car firms entering the European market.

"Europe is a very developed market and the birthplace of the automobile. It takes us a lot of courage to do business in Europe, and we will face great challenges. Although we've done well in other markets, that kind of success may not be able to be replicated in developed markets like Europe. Therefore, entering European market is a new challenge and a fresh task for us,” said Yin Tongyue, chairman of Chery Automobile.

As the birthplace of the motor car and a developed market for automobiles, Europe will create more opportunities while posing new challenges for Chinese automobile companies who would like to take a slice of the pie on this continent.

But since entering the European market is a strategic choice, obstacles laying ahead are something that Chinese auto firms have to overcome.

"For China and Europe, these two markets are highly complementary. It's not only happening simply in daily necessities or clothes, like the case in the past, but also happening in manufacturing products using advanced technologies. Up to 13 percent of EU countries' imported cars come from China in 2022, and the figure was only 2.5 percent in 2000. In terms of high-end market options, Europe is the most attractive one. I think both brands and consumers are very mature there,” said Lin Xueping, general manager of Beijing Lianxun Power Consulting Company.

Yang Shuanchang, director of the China-Europe Association for Technical and Economic Cooperation's working committee, said that building factories in Europe will benefit Chinese enterprises in several aspects.

"The EU is where China uses the most foreign investment. It is also the region where most of China's technologies come from. Setting up factories in Europe will allow our products to get closer to the market with lower overall cost. The factories help us to provide services closer to home, so I think this is indeed a two-way effort," Yang said.

Chinese car marques eye highly complementary European market: industry insiders

Heavy rains pounded cities in south China's Guangxi Region from wee hours Sunday, disrupting traffic and trapping residents.

The meteorological observatory in Nanning City issued the highest-level rainstorm warning after the downpour, accompanied by thunderstorms, strong winds and hailstones started around 04:00 local time.

The heavy rainfall led to treacherous road conditions in the morning as rainwaters kept rising in low-lying areas. In response, the transportation department implemented traffic control measures on flooded roads to ensure safety.

Floodwater has accumulated to depths up to around one meter in some areas of Beihai City, trapping residents and vehicles in the morning. Firefighters were dispatched to the scene and successfully evacuated eight people and conducted inspections of 49 flooded vehicles to ensure safety.

The fire department also sent a high-powered drainage vehicle to carry out drainage operations in low-lying areas.

China's State Flood Control and Drought Relief Headquarters activated a Level-IV emergency response on Saturday due to anticipated heavy rainfall in parts of Guangdong, Guangxi and the Pearl River over the next three days.

Work teams have been dispatched to Guangdong to provide guidance on how to deal with rainstorm.

Heavy rain hits southern Chinese cities, disrupting commuting