The rise in Chinese EV (electric vehicle) makers has caught global attention. A 2023-24 growth plan for the auto sector focuses almost exclusively on EVs, aiming for 30 percent y-o-y growth in NEV sales, compared to just 3 percent for the sector overall. But going electric is only part of the story. The next stage is delivering ICVs (intelligent connected vehicles). Beijing wants progress on both in tandem.
Bolstering the private economy is the latest intractable problem to be put under a 1+N framework. This approach, already applied to carbon neutrality and SOE reform, delivers a guiding document or goal, the ‘1,’ followed by a multitude, or ‘N’, of measures. The new Opinions on promoting the private sector are the next ‘1’; supporting measures have already dropped.
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