Recently, former Chongqing Mayor Huang Qifan made sensational remarks that caused quite a stir in China on July 13th. His statements were so striking that they landed on the country’s trending list.
At the 2025 Beike Financial Annual Conference, which opened on July 10th, Huang Qifan explained that the Chinese automobile manufacturing industry is usually considered to be one of the more profitable sectors in manufacturing. However, as of June this year, the industry’s profit margin was only 5%. In fact, the total profit from selling 30 million cars in China still doesn’t compare to the profits Toyota made from just 9 million cars.
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