The Ministry of Industry and Information Technology will lift restrictions on foreign investment in special vehicles and new energy vehicles this year

Substantial market access liberalization is a win-win move. On the morning of the 25th, at the press conference of the Information Office of the State Council, Chen Yin, chief engineer and spokesman of the Ministry of Industry and Information Technology, said that in 2018, the restrictions on foreign capital stocks for special vehicles and new energy vehicles will be abolished. In 2020, the restrictions on foreign capital stocks for commercial vehicles will be abolished. In 2022, the restrictions on foreign capital stocks for passenger vehicles will be cancelled.

On the occasion of the 40th anniversary of the reform and opening up, General Secretary Xi Jinping announced at the Boao Asia Forum that he would significantly relax market access, create a more favorable investment environment, strengthen intellectual property protection, and take the initiative to expand imports. It further demonstrates China's determination and will to press ahead with a new round of reform and opening up.

According to the deployment of the party central committee and the state Council, China will further implement the requirements for the opening up of automobile, ship, aircraft and other industries on the basis that the manufacturing industry has been basically opened, and relax the restrictions on the ratio of foreign capital to stocks, especially in the automotive industry. In 2018, restrictions on the share ratio of special vehicles and new energy vehicles will be lifted. In 2020, restrictions on the share ratio of foreign vehicles for commercial vehicles will be lifted. In 2022, restrictions on the share ratio of foreign vehicles for passenger vehicles will be lifted, and the establishment of joint ventures in China will not exceed two such restrictions.

At the same time, the Ministry of Industry and Informatization has actively cooperated with the national tax authorities to study and formulate a considerable reduction in import tariffs on automobiles. The door to China's opening will not be closed, it will only get bigger and bigger.

The page contains the contents of the machine translation.