·China will release restrictions on foreign shares in the field of automotive electronics

Sun Jiwen, spokesperson for the Ministry of Commerce, said on the 25th that the revised Foreign Investment Industry Guidance Catalogue is intended to liberalize foreign-invested stocks in the fields of automotive electronics and new energy vehicles, such as batteries and motorcycles. The revised version of the catalog will be announced in the near future.

The German economic minister recently stated that China has not achieved true trade freedom because in certain industries such as the automobile industry, German companies must make joint ventures with Chinese companies. He believes that "such regulations are contrary to free trade."

In this regard, Sun Jiwen stressed at the regular press conference of the Ministry of Commerce on the same day that China encourages foreign investors to invest in high-end manufacturing, including automobiles, and will continue to relax restrictions and expand openly in an orderly manner.
He pointed out that attracting foreign investment is an important part of China's basic national policy of opening to the outside world. Over the years, the Chinese government has been complying with the WTO's commitment to openness to the WTO and has continuously opened its market to foreign investment on the basis of fulfilling its commitments. According to China's current foreign investment laws, most areas are completely open to foreign investment. There are only restrictions on foreign investment in a few sensitive areas, and the above requirements are gradually reduced as China expands and opens up. The 2015 edition of the Foreign Investment Industrial Guidance Catalogue has reduced the number of entries limited to joint ventures and cooperation from the previous 43 to 15.

“In fact, German auto companies are one of the biggest beneficiaries of China’s expansion of opening up,” said Sun Jiwen. As early as the 1980s, well-known German auto companies came to China to set up factories. They have witnessed China's reform and opening up and witnessed the development process of China's expanding opening up and improving the investment environment for more than 30 years, and it has obtained a rich return on investment.

In late April of this year, the Ministry of Industry and Information Technology and other three ministries and commissions jointly issued the "Medium and Long-term Development Plan for the Automobile Industry", proposing to improve the domestic and foreign investment management system, and orderly release the joint venture share ratio restrictions.

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