China produces more vehicles than the top five countries put together 2020. Peak auto-manufacturing occurred 2018.
Worldometers notes current motor vehicle manufacturing at 43 million units 2021 and an aggressive stance to moving away from the increasingly un competitive ICE and dinosaur fuel energy by China. That alone is good reason for the Chinese RE industry to have a rosy decade in front of it.
https://www.statista.com/statistics/226032/light-vehicle-producing-countries/
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