FX.co ★ China Drops EVs from Strategic Industry List in New 5-Year Plan

Beijing has notably omitted electric vehicles from its strategic industry list in the latest five-year development plan for 2026–2030, marking their absence for the first time in over ten years. This change comes as the electric vehicle sector faces the challenge of oversupply. Previously, new energy vehicles (NEVs) — encompassing electric vehicles, plug-in hybrids, and fuel cell vehicles — were highlighted in the last three plans as pivotal strategic emerging industries aimed at boosting industrial competitiveness. However, the 15th five-year plan, as reported by Xinhua News Agency, now shifts its emphasis toward “quantum technology, bio-manufacturing, hydrogen energy, and nuclear fusion” as emergent growth sectors. The plan now categorizes automobiles alongside housing, with a governmental push to ease purchase restrictions in order to stimulate consumption. The comprehensive plan is anticipated to be fully unveiled at China’s parliamentary meeting in March.