GAC Chairman Zeng Qinghong

Q1, What are your expectations for the auto show?

A1: The economy and our social lives are back on the right track. The successful convening of the Beijing auto show will boost auto companies, which is believed to have a certain boost to the auto market.

Q2, With the pandemic slowing down, China’s automotive market has started to recover in the second quarter. What do you predict for China's auto market in the near future? The current recovery trend shows a “V” shape in sales, what do you think would be in the next stage? A “√” shape, a “W” shape, an “M” shape, or a “√¯” shape?

A2: The epidemic only changes the current development rhythm of the auto market, but it cannot change the future development direction of the auto market. Affected by the continued spread of overseas epidemics, anti-globalization and trade protectionism, the future will face more instability and tests. While enhancing their own strength, auto companies should increase various forms of strategic cooperation, accelerate research on key core technologies in a more efficient, open and inclusive, collaborative and shared way, turn crises into opportunities in future competition, and promote the development of independent brands. In general, these acceleration trends should move upward in twists and turns.

Q3, Can you use a few keywords to describe your predictions for the Chinese and global automotive industries in the next five years?

A3: 5G, intelligent, win-win cooperation

Q4, The virus has drastically affected people's lives. It has also caused people to rethink many aspects of life, including their way of traveling, and business management. From your perspective, what are the most important lessons we can take away from this pandemic? Can you also use a few keywords to summarize the impact?

A4: In this period of outbreak prevention and control, a new generation of information and communication technologies are being represented by 5G, big data and artificial intelligence. They have all played an important role in the fight against the virus and made us aware of new technologies. Products, new models, and new business formats will also bring rare new opportunities for the development of the country’s automobile industry. It can be summarized in three words: amplifier, accelerator and checker.

Q5, What do you think about the social responsibilities that the automotive companies have taken during the epidemic?

A5: GAC Group fulfills its corporate social responsibility, mobilizes all forces, donates money and materials, and contributes to the fight against the pandemic. The group started to produce masks in only half a month. Front-line personnel of outbreak prevention and control and public services such as medical care, buses, taxis and subways were given first priority to receive the masks.

Q6, In the post-epidemic era, how will China's position and role be affected in the global automotive industry? What do you think the players should do next?

A6: As the world’s largest automobile producer and consumer market, China is closely connected with the global automobile industry chain. Chinese auto parts account for 80 percent of the global market. However, most Chinese parts and components focus on the middle and low-end sectors, and still rely heavily on imports for high-end parts such as engines.

The global supply and value chains are indeed undergoing market-oriented reorganizations, and the reorganizations are still centered on China. In the future, China’s parts and components industry should further stabilize the production chain and lay a solid foundation for enhancing the international competitiveness of the industrial and supply chain.