Interview: Potential of Chinese market is unique in the world: BMW China chief

The potential of the Chinese auto market as well as the diversified demands of Chinese customers are unique in the world, said Jochen Goller, chief of BMW Group Region China.

"For many years, BMW Group considers China to be much more than just our largest single market, but rather an important origin of innovation," the president and CEO of BMW Group Region China told Xinhua in a recent written interview.

"We are continuously scaling up our investment in this regard, accelerating the transition from 'Made in China' to 'Create in China'," he added.

In China, the Bavarian company has already established its largest R&D footprint outside Germany and is expanding the collaboration with leading Chinese tech players.

Referring to China's new economic development pattern of "dual circulation," in which the domestic and overseas markets reinforce each other, with the domestic market as the mainstay, Goller said it is an effective strategy customized to the strength of the Chinese domestic market.

"'Dual circulation' puts a parallel emphasis both on domestic and international circulation. A high-level opening up certainly serves this end, brings win-win outcomes both for Chinese and multinational companies," he noted.

In addition, Goller said that China was the first among major global economies to successfully control the COVID-19 pandemic and it has once again become one "driving force of global economy".

BMW Group's sales in China reached a new record in 2020 despite the COVID-19 pandemic, increasing by 7.4 percent year-on-year, with 777,379 BMW and MINI brand vehicles delivered to its customers in China.

An earlier announcement from the carmaker said that of the total 2.3 million BMW and Mini vehicles sold last year, almost one in three was sold in China.

"The year 2021 is the first year of China's 14th Five-Year Plan (2021-2025), which will start a new journey of modernization in all dimensions. We are confident that China will continue to open up and promote high-quality development. BMW's confidence in the long-term development of the Chinese market remains unchanged," he said.