Central Bank: Further Promote High-Quality Development of China’s New Energy Vehicle Industry in the Next Phase
Release time:
2026-04-13
On August 17, the People’s Bank of China released the “Report on the Implementation of China’s Monetary Policy in the Second Quarter of 2023” (hereinafter referred to as the “Report”). In the industry analysis section, the Report notes that developing new-energy vehicles is an indispensable path for China to transition from a major automobile-producing country to a leading automotive powerhouse, and constitutes a strategic initiative for addressing climate change and promoting green development. In recent years, driven by policy support, technological advances, and growing market demand, China’s new-energy vehicle industry has achieved remarkable results: first, production and sales have expanded rapidly; second, exports have remained robust; and third, technological capabilities have improved at a rapid pace.
While the new-energy vehicle industry is experiencing rapid growth, it also faces significant challenges. First, its capacity for core technological innovation remains weak. Breakthroughs in key technologies such as batteries, electric motors, and electronic control systems are still needed, and product quality and safety require further improvement, which to some extent undermines the market competitiveness of new-energy vehicles. Second, the industrial ecosystem is incomplete. Domestic NEV manufacturers’ quality management capabilities still lag behind those of leading international firms. A development ecosystem characterized by zero collaboration between automotive power-battery suppliers and upstream and downstream enterprises has yet to be established, and the shortage of high-quality production capacity is particularly pronounced. Third, infrastructure development remains inadequate. In China, the ratio of NEVs to charging stations is approximately 2.5:1, indicating a substantial shortfall in the overall number of charging facilities and the coexistence of situations where vehicles lack access to charging stations and stations lack available vehicles. As a result, consumers encounter difficulties in locating charging stations, using them, and completing payment transactions, leading to insufficient convenience.
The report points out that, in the next phase, China will further promote the high-quality development of its new-energy vehicle industry and accelerate its transformation into a leading automotive power, using high-quality supply to guide and create demand and effectively stimulate large-scale automobile consumption. First, it is necessary to enhance technological innovation capacity by raising the technological level of new-energy vehicles in areas such as integration, energy efficiency, and safety, thereby improving their overall performance. Efforts should be intensified in R&D on power batteries and management systems, drive motors and power electronics, as well as networking and intelligent technologies, while simultaneously strengthening the technological supply chain for key components. Second, a new industrial ecosystem should be established by encouraging cross-sector collaboration among enterprises in the new-energy vehicle, energy, transportation, and information and communications sectors, leveraging the leading role of flagship companies to elevate the modernization of the industrial chain. Third, the infrastructure system must be improved by vigorously advancing the construction of charging and battery-swapping networks, accelerating the development of charging and battery-swapping infrastructure, and enhancing the quality of charging infrastructure services.
Charge and discharge control technology
Independently developed charging equipment control technology that complies with mainstream international standards, including China’s national standard (GB/T), European standards (CCS2), U.S. standards (CCS1/SAE J1772), and Tesla’s NACS. Also features V2G, V2L, and V2V charge and discharge equipment control technologies.
Software Ecosystem
Develop intelligent platforms for household energy management, charging operation management, and charging station operations & maintenance management, realizing end-to-end digitalization of household energy management, remote device monitoring, fault diagnosis, data analysis, and customer services. Build an integrated “vehicle–charging station–energy” ecosystem to promote efficient energy utilization and advance carbon neutrality goals.
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