China aims for 27m auto sales in 2023

BEIJING - China is aiming to bring this year's annual auto sales to about 27 million vehicles, an increase of 3 percent from the 2022 level, according to a work plan unveiled Saturday.

For new energy vehicles (NEVs), the country is targeting annual sales of around 9 million units, or a 30 percent rise year-on-year, said the plan jointly released by the Ministry of Industry and Information Technology and six other government departments.

To realize growth targets, the plan specified measures including expanding NEV consumption while stabilizing that of petrol vehicles, boosting auto exports, encouraging second-hand auto sales, strengthening product quality, keeping industrial and supply chains stable, as well as improving infrastructures.

All the existing supportive policies for NEV consumption should be well implemented, while no further restrictions should be placed on petrol vehicle purchases, it said. Work will be started on the testing of full electrification of vehicles for public transportation in pilot zones.

Car companies are encouraged to develop and produce products for the international market and increase efforts to explore markets in Belt and Road countries and emerging economies, according to the plan.