China aims to join the ranks of the world's automotive powerhouses by 2030, with stronger advantages across the entire industrial chain of intelligent connected new energy vehicles (NEVs), according to a five-year industry development plan released Friday.
The Ministry of Industry and Information Technology and nine other central government departments jointly drafted and released the plan, with the above general objective and four subgoals.
The plan sets targets for NEVs to account for 70 percent of new passenger vehicle sales and 40 percent of new commercial vehicle sales in the domestic market by 2030.
Vehicles equipped with autonomous driving functions are expected to see large-scale application by 2030, while highly automated driving is expected on expressways, urban express roads and some urban roads.
The plan calls for further advances in key technologies, setting targets for average passenger vehicle fuel consumption at 3.3 liters per 100 km and average electricity consumption of pure electric passenger vehicles at around 11.5 kilowatt-hours per 100 km by 2030.
The plan also calls for continued optimization of the industry's structure and a relatively high level of digital and intelligent development, with overall labor productivity targeted to rise 15 percent from the 2025 level.
It also aims to foster several automakers that rank among the world's top 10 by sales, as well as auto parts companies that rank among the global top 100.
Latest industry data showed that NEVs further consolidated their dominant position in China's auto market in August, with NEV sales accounting for a record 60.6 percent of monthly new car sales.
In August, NEV output and sales reached over 1.65 million and 1.64 million units, respectively, both up nearly 20 percent year on year, according to data from the China Association of Automobile Manufacturers.
China aims for global leadership in intelligent connected new energy vehicles by 2030
China is ramping up its push for foreign investment by expanding market access during the 15th Five-Year Plan (2026-2030) period, with the National Development and Reform Commission (NDRC) targeting the services sector as a prime gateway for global capital.
At a roundtable meeting with senior executives of U.S. multinational companies in China, NDRC officials said the commission has identified key areas of the services sector where foreign enterprises can expect to enjoy broadened access.
"On the basis of a full assessment of existing pilot programs, China will continue to promote an orderly expansion of opening-up in sectors such as telecommunications, Internet, education, culture and healthcare, and steadily advance pilot opening-up programs in value-added telecommunications, biotechnology and foreign-owned hospitals. We will prudently expand the interconnection of financial markets, optimize the qualified foreign investor system, broaden the range of investable products, and advance cross-border two-way direct financing for eligible enterprises in an orderly manner," said Zhao Kun, deputy head of the NDRC's Department of Foreign Capital and Overseas Investment.
The country will also take action to boost domestic spending, a key area of interest for U.S. companies. At the roundtable, the commission announced that China will allocate the fourth batch of 62.5 billion yuan (about 9.3 billion U.S. dollars) in consumer goods trade-in programs this year.
"We treat all market players equally and actively support companies of all ownership types, registration locations and scales of operation in participating in China's equipment upgrade and consumer goods trade-in programs. We will, as always, continue to support U.S. enterprises in China in seizing opportunities, engaging in equipment upgrade and consumer trade-in programs, upgrading production equipment and facilities, and improving production and operational efficiency. We will also provide advanced equipment and products for other enterprises and consumers, so that they can share in the policy benefits," said Zhang Lupeng, deputy head of the Department of Resource Conservation and Environmental Protection of NDRC.
Officials also emphasized measures to improve China's overall business environment, highlighting plans to better facilitate foreign investment and optimize cross-border data flow management.
According to U.S. business advocacy groups, American companies operating in China welcome new opportunities to invest in the Chinese market.
"Innovation is one of the reasons that our members cite that they want to be here. China's just overall dynamic, we can see it in a number of sectors, but things like green innovation, specifically electronic vehicles (EVs), but also green energy. So it was interesting today we heard from a number of companies who have investment, who have recently made investment, who continue to be interested in the market because it looks like they will have more investment," said Michael Hart, president of the American Chamber of Commerce in China, after attending the round-table.
Expanded market access in China to attract foreign investment in services sector: officials
