GEELY AUTO(HK:00175) 第一财经·2025-06-23 12:48Core Viewpoint - The article discusses the transformation of Daqing from a resource-based city to an industrial city, highlighting the role of Volvo's manufacturing plant in this transition and the emergence of a vibrant automotive culture, including a racing town and a thriving used car market [1][11][21]. Group 1: Volvo's Impact on Daqing - Volvo initiated its export plan in April 2017, marking the first time high-end Chinese-made cars were exported to the U.S. [1] - Over 560,000 units of the Volvo S90 have been produced at the Daqing plant since its establishment, contributing significantly to the local economy [1][4]. - The Daqing plant has a designed capacity of 150,000 vehicles per year and has become a key player in the local automotive industry, accounting for 34.4% of the local industrial revenue in 2024 [4][9]. Group 2: Economic Transition and Challenges - Daqing's economy faced a significant downturn in 2015 due to reliance on oil, with a GDP drop of 849.1 billion yuan [6]. - The city's GDP began to recover after Volvo's establishment, reaching 281.58 billion yuan in 2024 [6][10]. - Global challenges such as overcapacity in the automotive industry and competition from electric vehicle manufacturers have impacted Volvo's performance, with a 6% decline in global sales in Q1 2025 [12]. Group 3: Racing Town and Cultural Development - Daqing has developed a racing town that has become a new cultural landmark, featuring extensive racing facilities and hosting numerous automotive events [17][20]. - The racing town has seen nearly 600,000 used cars traded, generating a transaction volume of 35.5 billion yuan by the end of 2024 [20]. - The integration of racing culture and the used car market has revitalized Daqing's economy, attracting automotive enthusiasts from across the country [18][22]. Group 4: Future Directions and Opportunities - Experts suggest that Daqing should leverage its unique resources and cultural heritage to attract tourism and diversify its economy [23][24]. - The proximity to Harbin presents an opportunity for Daqing to enhance its tourism appeal by complementing Harbin's winter tourism with its own industrial and cultural offerings [23][24]. - The city aims to explore new energy solutions, such as hydrogen fuel vehicles, to transition away from fossil fuels [13].