New progress in domestic storage chips

On January 19th, the State Council Information Office held a press conference, where Vice Minister of Industry and Information Technology Xin Guobin reviewed the 2023 automobile production, sales, and export data, and shared industry expectations and progress for 2024.

Vice Minister of Industry and Information Technology Xin Guobin stated that in 2023, China's automobile production and sales reached 30.161 million and 30.094 million respectively, with year-on-year growth of 11.6% and 12%, setting a new historical high and maintaining the world's top position for 15 consecutive years. After more than a decade of development, China's automobile production and sales have exceeded 30 million units, and the retail sales of automobiles have reached 4.86 trillion yuan, accounting for 10.3% of the total retail sales of consumer goods in society. The added value of industrial enterprises above designated size in the automobile manufacturing industry has increased by 13% year-on-year, making important contributions to the stable growth of China's economy.

Among them, in terms of new energy vehicles, China's production and sales reached 9.587 million and 9.495 million units respectively in 2023, an increase of 35.8% and 37.9% year-on-year, and new car sales accounted for 31.6% of the total new car sales.

In terms of China's automobile export data, 4.91 million vehicles were exported in 2023, a year-on-year increase of 57.9%, and it is expected to leap to the top of the world for the first time. Among them, 1.203 million new energy vehicles were exported, a year-on-year increase of 77.6%, providing diversified consumption choices for global consumers.

Xin Guobin introduced that after conducting research at the beginning of the year, the Ministry of Industry and Information Technology believes that China's automobile industry production and sales can achieve stable growth in 2024, and new energy vehicles will continue to maintain a good development trend. It is expected to reach 31 million vehicles by 2024, with a slight year-on-year increase of about 3%. The production and sales of new energy vehicles will also reach a scale of about 11.5 million units, with a growth rate of approximately 20%. Of course, this is the data predicted by relevant enterprises and research institutions organized by the association, and the Ministry of Industry and Information Technology will further verify it.

Next, the Ministry of Industry and Information Technology will conscientiously implement the work arrangements of the Central Economic Work Conference and the National New Industrialization Promotion Conference, and work with relevant departments to further strengthen macro guidance, enhance industry management, and promote high-quality development of the automotive industry.

Firstly, it is necessary to implement preferential policies such as reducing or exempting vehicle purchase taxes, carry out pilot projects for comprehensive electrification of public sector vehicles and rural activities for new energy vehicles, actively expand the consumption of new energy vehicles, and maintain the stable operation of the industry.

The second is to support enterprises to carry out joint innovation, increase technological breakthroughs in vehicle chips, all solid state batteries, high-level autonomous driving, and further enhance product market competitiveness.

The third is to organize and carry out pilot projects for the admission of intelligent connected vehicles and the integration of vehicle, road, and cloud applications, accelerate the construction of infrastructure such as roadside perception and connected cloud control, further improve the standard system for vehicle, road, and network ends, and further promote the commercial application of intelligent connected vehicles.

The fourth is to further strengthen the overall layout of industrial development, prevent and resolve the risk of overcapacity, and maintain a fair competition market order.