February 22, 2025

Intends to invest 10 billion Dongfeng company will strengthen the Hubei automobile real economy


“Dongfeng is the east wind of China, and it is also the east wind of Hubei. In 2015, Dongfeng will intensify its investment in Hubei Province with a total investment of about 10 billion yuan.” March 4, Hubei Province Local Taxation Bureau “Market University” New A series of knowledge lectures was officially launched. On March 6th, Zhu Fushou, general manager of the company and deputy secretary of the Party Committee, said that he was invited to make a coaching report entitled "Strengthening the Auto Entity Economy to Promote Hubei in the Forefront".

 


Zhu Fushou expressed his gratitude to the Hubei tax system for giving Dongfeng's long-term concern, help and support, and mainly from the development of China's auto industry and Dongfeng Company in 2014. The real economy is the foundation of China's economic development and the future development of China's auto industry. The five pillars of the automotive industry in the development of the national economy, Dongfeng’s Hubei business and tax analysis provide an in-depth analysis of “Strengthening the automotive real economy to promote Hubei's advancement”.

Zhu Fushou said that in 2014, China’s auto production and sales data were 2,372,290 units and 23,491,900 units respectively, an increase of 7.26% and 6.86% year-on-year. Dongfeng Motor Co., Ltd. produced and sold 3.835 million vehicles and 38.025 million vehicles, an increase of 8.44% and 7.57% year-on-year respectively. The sales volume successfully completed the annual target of 3.8 million vehicles, the sales volume ranked second in the industry, the sales growth rate was higher than the industry, and the sales revenue was 482.9 billion yuan. Yuan, an increase of 9.7% over the same period last year, and the overall tax revenue exceeded 45 billion yuan, an increase of 11.8% over the same period last year. Of the total sales of 3.8 million vehicles, Wuhan accounted for 47%; of the total tax revenue of more than 45 billion, Wuhan accounted for more than 57%.

Zhu Fushou pointed out that the real economy is the most fundamental manifestation of a country's economic strength and international competitiveness, and it is also the most important development subject of China's economy. Hubei is a major industrial province in China and an important industrial base in China. As far as Hubei Province is concerned, the real economy is an important pillar of "building a fulcrum and taking the lead." Under the influence of the “three phases” (shifting growth period, structural adjustment pain period, and pre-stimulus policy digestion period) and the adjustment of the world economy, the internal and external environment facing China’s economy is becoming increasingly complex. At present, China’s economic development has entered a new normal: economic growth is shifting from growth to medium- and high-speed growth; economic growth has dropped from 10% to about 7%; economic development is shifting from extensive speed-based growth to quality-intensive intensive growth; The economic structure is shifting from the incremental expansion of energy to the adjustment of the adjustment of stocks and premiums. The economic development momentum is shifting from the traditional growth point to a new growth point.

Zhu Fushou believes that as the world's largest manufacturing industry, the auto industry is like an engine, which promotes the rapid development of the world economy. At the same time, the automotive industry continues to develop and the market demand continues to increase. By 2014, the production and sales volume has reached 88 million vehicles. Since the beginning of the popularity of Chinese cars in 2002, the Chinese auto market has entered a stage of micro growth after an average annual growth rate of 18% in 12 years. The average annual growth rate is expected to be around 5% to 6% in the next few years. The annual sales volume is expected to reach 30 million.

Zhu Fushou said that after more than 40 years of development, the Hubei automobile industry has formed three production bases for whole vehicles in Wuhan, Shiyan and Xiangyang, and a special vehicle production base for Suizhou. The scale and development quality of the industry are all ranked first in Central China. In terms of tax contribution, from 2010 to 2014, Dongfeng Company paid a total of 112.1 billion yuan (including tariffs) to Hubei Province, accounting for 59% of the total tax paid, and an average annual increase of 19.9%. From 2015 to 2019, it is estimated that Dongfeng will pay taxes of 279.3 billion yuan (including tariffs) for Hubei Province, an average annual increase of 6.7%. In 2015, Dongfeng’s annual operating target was to achieve 4.1 million sales and challenge 4.3 million vehicles. Dongfeng will intensify its investment in Hubei Province with a total investment of about 10 billion yuan.


Xu Jianguo, Secretary of the Party Group and Director of the Local Taxation Bureau of Hubei Province presided over the lecture. He said that as a car central enterprise, Dongfeng Corporation has made great contributions to Hubei's social and economic development and has also made tremendous contributions to Hubei's taxation. Comrade Zhu Fushou’s theory of reporting combined with reality not only dissects the automotive industry and the real economy, but also clearly and thoroughly describes the future development of the automotive industry. It is believed that the future development of Dongfeng Company will provide stronger support for Hubei to speed up the promotion of “building a fulcrum and taking the lead”.

Li Ping, deputy director of the company (Party Committee) office, Chen Fengguo, deputy director of the company’s financial and accounting department, Xu Guoyong, party member of the Hubei Provincial Local Taxation Bureau, and discipline inspection team leader Xu Guoyong, member of the Party Group, deputy director Yang Xuchun, Xiao Xuhu, member of the Party Group, chief accountant, You Qiancheng, deputy inspector Zhang Hui and Yang Ronghui attended the report.

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