China overtook Japan in 2023 to become the world’s largest auto exporter, driven by the success of its electric cars.
These include a super-sized market of 1.4 billion people, a complete industrial system and a wide and diverse talent pool, he said. But Chinese EV companies have come under scrutiny by foreign governments including the European Union , the United States and, most recently, Canada, on fears that their markets are being flooded with cheap – subsidised – Chinese EVs to the detriment of local manufacturers.
Mr Li said: “China has been working hard to advance science and technology innovation. We encourage companies to be first movers and make continuous investments in cutting-edge fields. Chinese electric cars have “eased off inflation pressures worldwide, and active contribution to the global climate response”, he added.China’s EV makers got about $313 billion in aid over last 15 yearsBeijing “has been doing our best to foster a market-oriented, world-class business environment within a sound legal framework and to that end, we have been abolishing regulations that limit market access and fair competition”, Mr Li said.