He predicts that by 2025, new energy vehicles will be more cost-effective than fuel vehicles, piling additional pressure onto traditional automakers.
He said innovation and efforts from all parties involved to improve industry concentration are necessary as the overcapacity cuts have injected vigor into the industry. The country removed 120 million metric tons of steel overcapacity from 2016 to 2017, going far beyond the annual goals.
He recalled that 110 diesel buses and 20 electric buses made by Yutong were introduced to the Bulgarian capital city's public transport system in 2016 and at the end of 2018 respectively.
He said combating drugs and associated crime is a tough, long-term mission and pledged that police across the province would redouble efforts to ensure a better environment for residents, investors and tourists.
He said that some individual countries, regardless of the consequences, have blatantly violated international laws and the basic norms governing international relations, frequently imposed sanctions on other countries and suppressed their enterprises, which has curbed world economic growth and jeopardized the development of international trade.
He said he hopes Hong Kong will continue to seize opportunities with the country's new round of reform and opening-up, prevent and control financial risks, make continuous efforts to improve livelihoods and keep improving the region's competitiveness.
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He reiterated a call for more global solidarity. "(I would) like to use this opportunity to call on (the) unity, and solidarity of the whole world," he said.
He said at his own briefing that the city, which has reported over 185,000 COVID-19 cases, is "clearly not ready yet," while "by June we will make progress if we keep up what we have been doing."
He said much progress has been made in improving transparency as recent data shows the regulators have become more tolerant to the yuan's fluctuation, but more efforts are needed to continue promoting exchange rate reforms.
He said at this year's conference in Spain that barring Huawei "will delay 5G in Europe by probably two years-it will structurally disadvantage Europe".