China’s MIIT Minister Li announces plans to expand auto consumption and boost vehicle trade-in program
Newsquawk Staff ·
- To enhance supply chain autonomy, advance key industry development and accelerate breakthroughs in solid-state batteries and advanced autonomous driving.
- To regulate industry competition and strengthen cost and price monitoring.
What it means
China's push to expand auto consumption and improve vehicle trade-in programs signals a strategic move to boost domestic industry and innovation, particularly in advanced technologies like solid-state batteries and autonomous driving. This initiative may influence global auto market dynamics and could have implications for related sectors, including commodities and technology, as China seeks to enhance its supply chain autonomy and regulatory oversight in a competitive landscape.
- China's Auto Industry Body CPCA says Tesla (TSLA) sold 67,829 China-made vehicles in Oct (prev. 95,366 M/M)
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- China proposes easing FX rules for current account transactions
- Japan's Chief Cabinet Secretary Kihara says JPY 1.1tln of reserve funds is to support fuel price measures
- Japanese PM Takaichi says they will be commencing electricity and gas support measures from December, until February
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