China's automobile industry has shown steady growth in 2024, with vehicle production and sales rising consistently during the first nine months of the year, according to data released by the China Association of Automobile Manufacturers (CAAM) on Saturday.
During the January-September period, the country's auto production reached approximately 21.47 million units, up 1.9 percent year on year.
Auto sales totaled 21.57 million units, marking a 2.4 percent increase from the same period last year. Notably, both production and sales of new energy vehicles (NEVs) surpassed 8.3 million units, with year-on-year growth exceeding 30 percent in both categories, according to CAAM's data.
CAAM stated that within the structure of automobile production and sales, NEVs now account for nearly 40 percent of total vehicle sales.
China's passenger vehicle market has been gradually picking up, with retail sales growing stronger in the third quarter of this year, thanks to government policies encouraging vehicle trade-ins and manufacturers launching new models during "Golden September and Silver October", a peak period for car sales, said Chen Shihua, deputy secretary-general of the Association.
In August, China increased the financial stimulus to encourage consumers to scrap their old vehicles and buy new ones. Subsidies for trade-ins of new-energy passenger vehicles have doubled from 10,000 yuan (about 1,414 U.S. dollars) to 20,000 yuan, while those for trade-ins of fuel passenger vehicles have been lifted from 7,000 yuan to 15,000 yuan.
At the same time, the export of finished vehicles has also seen steady growth. In the first three quarters, China's automobile exports reached 4.312 million units, a 27.3 percent year-on-year increase. Among them, exports of NEVs totaled 928,000 units, up 12.5 percent year on year.
China's auto sector shows strong growth momentum in first nine months
A military expert said that the latest live-fire exercises around Taiwan Island, code-named "Justice Mission 2025," are marked by immediate engagement in live-fire drills, a multidimensional blockade strategy, and unified control over Taiwan and surrounding waters.
In an interview with China Central Television (CCTV), Meng Xiangqing, a professor at the National Defense University of the People's Liberation Army (PLA), outlined four significant highlights of the ongoing drills, which began on Monday.
"The most striking highlight is the immediate engagement in live-fire drills from the outset. In previous exercises, while we conducted live-fire drills, there were times when such drills were absent, which was normal depending on varying exercise requirements. In this exercise, our military, including Army, Navy, Air Force and Rocket Force troops, rapidly deployed capabilities around Taiwan's northern, southeastern, and eastern areas, followed by live-fire exercises. Our artillery featured simulated strikes on moving targets at sea and on land. This is a significant highlight, showcasing our troops' readiness for battle at all times, their capability for combat at all times, and their assurance of victory, and their capability to seamlessly transition from training to combat," he said.
"The second highlight, which is also a central theme of this exercise, is the multidimensional blockade and control strategy. All branches of our military, including the Coast Guard, implemented multidimensional blockade and control measures at crucial ports and regions of Taiwan. According to the latest updates from the Eastern Theater Command this morning, these measures continue be to a vital part of today's exercises. For instance, the designation of two areas in northern Taiwan aims to execute control around the important Keelung Port, while in the southeast, the blockade targets Kaohsiung and the Zuoying maritime and airspace routes, effectively cutting off key ports, areas and military bases critical to Taiwan separatist forces, thereby establishing a 'closing the door to beat the dog' strategy," Meng said.
"The third highlight is that, from yesterday to today, the Fujian Coast Guard has engaged in law enforcement operation near Taiwan Island and surrounding waters, including attached islets, establishing unified control over these areas. This represents a new breakthrough. I particularly noticed that the areas under control have expanded, according to several pieces of information released by the Coast Guard yesterday, including a poster depicting the extent of our multidimensional control yesterday. Under one-China principle, this reaffirms China's sovereignty and security while underscoring the inviolability of our territory," he said.
"The fourth highlight is the demonstration of coordinated operations among the various units participating in the exercises. This included maritime assaults, ground strikes, air defense and anti-submarine operations, validating the strong combat capabilities of our military," the expert added.
Military expert shares key highlights of PLA live-fire drills
