Cui Dongshu highlighted that China's macroeconomic landscape remains robust, bolstered by consumption-boosting policies that have spurred significant growth in the automotive sector. He anticipates that the national auto market will sustain a generally stable trajectory in 2026, with commercial vehicles experiencing structural growth propelled by equipment renewal subsidies. The electrification trend in logistics and transportation vehicles is set to accelerate, ensuring a highly dynamic market environment. Following the robust consumer policies enacted last year, the policy landscape in 2026 has become more stringent, marked by a notable decrease in support measures for entry-level consumption. This has resulted in persistent negative growth in passenger vehicle retail sales from January to June of this year, accompanied by a sharp downturn in sales of fuel-powered passenger vehicles. Nevertheless, manufacturers' sales in June maintained a steady growth pace, thanks to increased exports. Although the new energy vehicle market did not perform strongly that month, auto exports continued to surge, and manufacturers' inventories saw a slight contraction, indicating no inventory pressure within the industry.