MNI BRIEF: China Welcomes Global Car Makers - NDRC
Beijing welcomes global automotive firms to integrate with the domestic economy and supply chain, with China one of the most open vehicle markets in the world, Huo Fupeng, a deputy director at the National Development and Reform Commission (NDRC) told state news outlet Xinhua on Monday.
Speaking at the China Economic Roundtable, Huo said Beijing would support Chinese car firms to strengthen international cooperation and contribute to developing the global automotive industry.
Authorities should enhance industry competitiveness and coordination between up and downstream enterprises, Huo added.
An NDRC economist recently told MNI Western concerns about alleged Chinese overcapacity were inappropriate, noting supply and demand were determined globally with countries holding differing industrial capacities based on their comparative advantages. (See: MNI INTERVIEW: China Exports To Grow In 2024)