How do foreign automakers view the new negative list for foreign investment access? The Chair of the Automotive Working Group of the European Union Chamber of Commerce in China stated in an interview that the removal of ownership ratio restrictions in the automotive industry has raised foreign companies’ expectations and confidence in the long-term positive development of China’s automotive industry and market, offering more possibilities for foreign enterprises to formulate flexible and efficient development strategies in China.

The Automotive Working Group of the European Union Chamber of Commerce in China, composed of over 80 complete vehicle manufacturers and auto parts companies, received the lifting of ownership ratio restrictions as its first piece of good news at the start of the year.

The Chair of the Automotive Working Group said that the removal of ownership restrictions has a positive impact on both foreign automakers already operating in China and those planning to enter the Chinese market. Given the unprecedented transformation of the automotive industry, the timing of this removal could not be better.

Zhang Hongzhuo, Chair of the Automotive Working Group of the European Union Chamber of Commerce in China, stated that the removal of ownership ratio restrictions and the elimination of limits on the number of joint ventures will help foreign automakers maximize the flexibility offered by the policy and enhance their operational efficiency in China. At the same time, foreign companies will inevitably place greater emphasis on the Chinese automotive market, and the design and R&D of automotive products that cater to Chinese consumer preferences will become mainstream.