Automotive industry in China

Uncommon card · No. 130943

The automotive industry in China has been the largest in the world measured by automobile unit production since 2008. As of 2024, China is also the world's largest automobile market both in terms of sales and ownership. The Chinese automotive industry has seen significant developments and transformations over the years. While the period from 1949 to 1980 witnessed slow progress in the industry due to restricted competition and political instability during the Cultural Revolution, the landscape started to shift during the reform and opening up period that started in the late 1970s, especially after the government's seventh five-year plan between 1986 and 1990 prioritized the domestic automobile manufacturing sector. The entry of China into the World Trade Organization (WTO) in 2001 further accelerated the growth of the automotive industry. Tariff reductions and increased competition led to a surge in car sales, with China becoming the largest auto producer globally in 2008. Foreign investment...

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