On October 12, the 2023 Fortune Global 500 Summit was held in Guangzhou. During the summit, Guo Yonghang, Secretary of the CPC Guangzhou Municipal Party Committee, and Sun Zhiyang, Deputy Secretary of the CPC Guangzhou Municipal Party Committee and Acting Mayor of Guangzhou, met with important guests. Sun Zhiyang delivered a speech at the plenary session. Peng Haowen, Chairman of Fortune Media Group, Xie Ying, Deputy Commissioner of the Special Commissioner's Office of the Ministry of Commerce in Guangzhou, Bian Liming, Tan Ping, and Jiang Zhitao, leaders from the Guangzhou Municipal People's Government, Alyson Shontell, Editor-in-chief of Fortune, and Fan Gang, Vice President of the China Society of Economic Reform, were also present. Feng Xingya, President of GAC Group, was invited to attend and give a special interview on “Can China Take Over the World’s Auto Market”

 

 

At the 2023 Fortune Global 500 Summit, themed “New Challenges, New Possibilities” , President Feng said in the interview that China is expected to overtake Japan for the first time at the end of this year to become the world’s largest automotive exporter, which is an inevitable trend as the industry  goes global. This view is based on two factors: long-term accumulation by Chinese businesses, and the foundation laid by Chinese automotive manufacturers in recent years through their transformation toward intelligent connectivity.

 

Feng said that during this process, manufacturers will go through several stages of competition: from price into technology and then to branding. The technological strength of Chinese automotive manufacturers has been enhanced, and their brand image and service network are being optimized on all fronts.

 

 

Regarding intelligent and connected new energy vehicles, Feng pointed out that GAC Group’s electric drive, battery, and electric control as well as intelligent connectivity technologies are all in an industry-leading position. These breakthroughs have also increased China’s competitiveness in the international automotive market. In the future, GAC Group will be able to gain a foothold in the international market based on its own advantages and characteristics.