Key facts
- China's vehicle exports increased by 68.7% year-on-year in May to 930,000 units.
- New-energy vehicle (NEV) exports saw a 110% surge, reaching 446,000 units.
- Total auto exports for the first five months of the year surpassed 4 million units.
- NEVs accounted for over 45% of total exports during the January-May period.
- China's IT ministry is promoting research and development of high-end optoelectronic chips.
China's automotive sector continued its rapid export growth in May, with total vehicle shipments reaching 930,000 units, a 68.7% increase compared to the previous year. The surge was significantly driven by new-energy vehicles (NEVs), whose exports more than doubled to 446,000 units.
For the first five months of the year, China's auto exports surpassed 4 million units, with NEVs making up over 45% of this total. This sustained growth highlights the increasing global demand for Chinese-manufactured vehicles, particularly in the electric and hybrid segments.
In parallel, China's Ministry of Industry and Information Technology (MIIT) has issued a directive aimed at bolstering the research and development of high-end optoelectronic chips and devices. The ministry aims to establish an integrated framework for these technologies by 2028, fostering the creation of more than 30 high-value application scenarios.