In a recent interview with ChinaPerspectives, Huang Hanquan, head of the Chinese Academy of Macroeconomic Research, said that while the plans announced by the European Commission to impose import tariffs of up to 36.3 percent on electric vehicles produced in China will certainly have some impact, this impact can be managed and overcome. In terms of the new energy vehicle industry, he said China has the complete industrial chain, and the ability to produce at scale, so China-produced NEVs are cost-competitive. While the European market is important, China also has other rapidly developing markets, such as those along the Belt and Road. He noted the current situation will push China to further deepen reforms to promote technological innovation and optimize the supply chain management to reduce costs. By lowering costs across various stages, China can improve efficiency and effectively respond to the EU's tariff increase.
Producer: Ke Rongyi
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