Zeng proposed that China's automobile industry should give priority to the development of chips. He said that China should concentrate human, financial and material resources to strengthen the construction of an industrial chain in key auto components and parts.

Zeng suggested that the industry should work on both open cooperation and independent innovation to solve short-and long-term chip shortages.

Statistics showed that in 2020, the global auto chip market was worth about 300 billion yuan ($46.36 billion). China accounted for less than 2.5 percent of that with an independent auto chip industry valued at around 7 billion yuan.