Core Insights - China's total goods trade import and export value reached 21.79 trillion yuan in the first half of the year, marking a historical high for the same period [1] - The "new three items" represented by electric passenger vehicles, lithium-ion batteries, and solar cells have become new symbols of China's foreign trade exports, showing rapid growth [1] - Chinese electric vehicles are rapidly gaining market share in Southeast Asia, particularly in Singapore, which has traditionally been dominated by Japanese and European car manufacturers [1] Trade Performance - In the first half of 2025, BYD became the best-selling car brand in Singapore with 4,667 new registrations, capturing 19.5% of the new car market [2] - The total number of new car registrations in Singapore increased by 29% year-on-year, from 18,576 in the first half of 2024 to 23,957 in the first half of 2025 [1][2] Market Dynamics - The influx of Chinese electric vehicles is attributed to competitive pricing, government incentives for electric vehicles, and public trust in the government's green emission reduction plans [6][7] - The Singapore government is implementing measures such as purchase subsidies and tax reductions to promote electric vehicle adoption, making it easier for Chinese brands to enter the market [7] Consumer Sentiment - Consumers in Singapore are increasingly recognizing the quality of Chinese electric vehicles, with many former Tesla owners expressing satisfaction with their new BYD models [3][4] - The perception of Chinese manufacturing quality has improved significantly, with consumers noting advancements in technology and product quality [3][4] Future Outlook - Experts predict that electric vehicles will see significant growth in the Singapore market over the next 5 to 10 years, with BYD leading the charge [8] - In 2024, BYD registered 6,191 new vehicles in Singapore, accounting for 14.4% of the new car registrations, and the electric vehicle market share is expected to continue expanding [8]