MUNICH, Germany, Sept. 5 (Xinhua) -- German Chancellor Olaf Scholz on Tuesday welcomed the international auto manufacturers at the country's largest automobile show, IAA Mobility, stressing that "fair competition is good for business."

       It is "nice to have so many international manufacturers and suppliers here in Munich, welcome," Scholz said in his speech.

       The 2023 International Motor Show (IAA), one of the world's largest mobility trade fairs, opened in the southern German city of Munich on Tuesday, with German and Chinese exhibitors in the limelight.

       This year, 40 percent of the exhibitors come from Asia, including 75 Chinese companies such as BYD, Xpeng, Leapmotor, SERES Group, Horizon Robotics and CATL, a spokesperson for IAA Mobility told Xinhua.

       Last year, Germany started listing China as a manufacturing country in its official passenger car registration. Since then, the market share of Chinese cars has grown to 1.3 percent in July, ahead of Britain, according to the Federal Motor Transport Authority.

       The advantages of Chinese carmakers include their rapid battery innovations and their early entry into the electric vehicle industry, Ferdinand Dudenhoeffer, director of the Germany-based CAR Center Automotive Research Duisburg, told Xinhua recently.

       He stressed that the competition between Chinese and German carmakers will help German companies grow faster. "If you are in competition, you will walk faster."

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