It's another new five-year period, one that reflects people's evolving expectations as each cycle begins. This time, the aspirations seem to differ from previous years, signaling a shift in focus and direction.
In the past five-year cycles, the main emphasis was on making companies and industries "bigger and better." However, over the last five years, China has experienced remarkable growth, becoming the third-largest automobile producer globally. At the same time, the dominance of foreign brands in the Chinese car market has raised concerns about the long-term sustainability of local brands and their technical capabilities. If we consider earlier growth as episodic, the current phase demands a move toward connotative, or quality-driven, development. This transition is not only a common industry sentiment but also a strategic priority actively promoted by government authorities.
A journey of a thousand miles begins with a single step. How did this major turning point start? The key words are independent innovation and structural adjustment. Years ago, there were large-scale reports highlighting the need for Chinese auto companies to enhance their independent innovation capabilities. Since last year, this concept has gained widespread attention from both central leaders and the general public. At the end of last year, officials from the Ministry of Science and Technology emphasized the importance of innovation in public forums. At the beginning of this year, the first national science and technology conference of the new century called for building an innovative country. The “Two Sessions†this year once again stressed the significance of independent innovation. The National Development and Reform Commission has introduced policies aimed at promoting innovation within the automotive sector, and the draft of the "Eleventh Five-Year Plan" for the auto industry places independent innovation at the top of its agenda. Meanwhile, sales of locally branded vehicles have seen unprecedented growth.
Structural adjustment is another key area of focus. At the end of last year, relevant departments identified the automotive industry as one with overcapacity and outdated production capacity, pointing out that the excess capacity is essentially a structural issue. Although China’s auto production and sales have reached nearly 6 million units, the share of local brands remains relatively low. Additionally, most domestic brand products are concentrated in the lower and mid-range segments. In terms of organizational structure, there are over 100 domestic automakers, yet none have yet emerged as a true competitor to multinational corporations. Therefore, structural adjustment is also a highlight in the draft of the "Eleventh Five-Year Plan" for the automotive industry.
When discussing the independence of the auto industry, it's impossible to ignore commercial vehicle companies. Over the past two five-year periods, these companies haven’t received as much attention as passenger car manufacturers. Yet, they have made significant strides in independent innovation that even passenger car companies have struggled to match. At this new starting point, what are domestic commercial vehicle companies doing, and what plans do they have for the future?
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