New energy vehicles foreign shares ratio limit will be canceled

The State Council Information Office held a press conference in Beijing.

Chen Yin, chief engineer and spokesperson of the Ministry of Industry and Information Technology, said at the press conference that the opening of China’s door will not be closed and will only widen. The Ministry of Industry and Information Technology is actively cooperating with relevant departments to study and formulate a considerable reduction in automobile import tariffs, which will be released as soon as possible after confirmation.

Chen Yin said that a substantial relaxation of market access is a win-win situation. China's auto industry has always adhered to the principle of opening up to the outside world and encouraged international cooperation and exchanges. The Chinese auto market is one of the most open auto markets in the world. Almost all of the well-known international auto group companies have joint ventures in China and have achieved good development.

Chen Yin said that China will relax the restrictions on foreign-invested shares in the auto industry on the basis of the basic opening of the manufacturing industry. In 2018, the restrictions on the foreign-funded shares of special-purpose vehicles and new-energy vehicles will be lifted. In 2020, the restrictions on foreign-funded shares of commercial vehicles will be lifted, and the restrictions will be lifted in 2022. Passenger cars are limited by foreign stocks and cancel the joint venture without more than two restrictions.

While expanding its opening up, the Ministry of Industry and Information Technology will also support innovation and encourage enterprises to develop core technologies.

Chen Yin said that the Ministry of Industry and Information Technology will speed up the organization of the construction of the Innovation Center. Up to now, power battery, additive manufacturing, information optoelectronics, printing and flexible display, and five national manufacturing innovation centers have been built. The relevant provinces have cultivated about 60 provincial-level manufacturing innovation centers.

In the next step, the Ministry of Industry and Information Technology will focus on building a manufacturing innovation system that is enterprise-oriented, market-oriented, and deeply integrated with industry, academia and research, and supports the high-quality development of manufacturing. Further optimize the network coverage of NB-IoT (narrowband Internet of Things); promote the development of NB-IoT to more fields, promote the prosperity of NB-IoT industry, and effectively support the development of various industrial chains in the whole society.

The page contains the contents of the machine translation.