Home / Business

China revs up as top car exporter dislodging Japan

Staff members work at a production line of Yubei plant of Chongqing Changan Automobile Co., Ltd. in Chongqing, southwest China.

By Patel Okumu | 31 Jan 2024

China overtook Japan as the largest auto exporter in 2023, a milestone for the internationalization of China's vehicle industry and bright spot in China's economic growth.

China overtook Japan as the largest auto exporter in 2023, a milestone for the internationalization of China's vehicle industry and bright spot in China's economic growth.

The achievement further proved China's competitiveness in the automotive industry and its recognition among consumers worldwide for its technological innovation and supply chain advantages, experts said.

Keep reading

Japan exported 4.42 million vehicles in 2023, according to data released by the Japan Automobile Manufacturers Association on Wednesday, The Japan Times reported. That compared with 4.91 million vehicles shipped from China, according to the China Association of Automobile Manufacturers (CAAM).

It's a milestone for the internationalization of China's automotive industry, indicating its growing presence in global markets, Zhang Xiang, director of the Digital Automotive International Cooperation Research Center of the World Digital Economy Forum, told the Global Times on Wednesday.

New-energy vehicles (NEVs) are a key force behind the overall growth, Zhang said. In 2023, China's exports of NEVs reached a record of 1.203 million, with year-on-year growth of 77.6 per cent.

The Chinese vehicle industry, with its robust supply chain, has embraced innovation and effectively capitalized on the new-energy wave, Li Yong, a senior research fellow at the China Association of International Trade said.

"Chinese companies are at the forefront of patent filings and technological innovation in NEVs. They not only excel in innovative production but also have the advantage of scale and a complete industry chain," Li said.

After years of development, China has established a complete NEV industry system with seamless integration between the upstream and downstream sectors.