The domestic sales volume of new energy cars is expected to hit one million in 2018, according to official forecasts, Guangzhou Daily reported on Dec. 26.

Industry insiders pointed out that with lower subsidies and the participation of new players, including Baidu, Alibaba, and Tencent, competition in the new energy vehicle market will heat up.

Based on the key work arranged for 2018 by industry authorities, analysts believe strategic emerging industries, including new energy cars, will become the focus of capital markets in 2018.

Deepening supply-side structural reform is set as the top mission for 2018 by the National Development and Reform Commission, the country’s top economic planner.

Meanwhile, a plan to boost the development of strategic emerging industries is in the making, with specific sectors such as next-generation information technology, quantum communication, big data, cloud computing, robotics and intelligent manufacturing, and high-end manufacturing, among other things, to be further enhanced in 2018.