Chinese EV Manufacturers' Rapid Development Not Subsidized, Says Minister of Commerce

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Wang Wentao, Minister of Commerce of China, stated that the rapid development of Chinese electric vehicle (EV) manufacturers is a result of constant tech innovations, well-established supply chain system, and full market competition, not subsidies. He emphasized the importance of the EV industry in addressing climate change and green transformation, and the Chinese government's active support for enterprises in safeguarding their rights and interests.

: Wang Wentao, Minister of Commerce of China, said here Sunday that Chinese electric vehicle manufacturers’ rapid development is a result of constant tech innovations, well-established supply chain system, and full market competition, not subsidies, reported Xinhua.

Chinese enterprises, he said, should also deepen cooperation with local enterprises, seek common development, and act as firm participants and contributors in global green transformation.

 

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