在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Motoring

Equity cap in commercial vehicle JVs to be removed

By LI FUSHENG | China Daily | Updated: 2020-06-29 09:55
Share
Share - WeChat
Visitors examine a Tesla model at the Guangzhou auto show in 2019. [Photo/LI FUSHENG FOR CHINA DAILY]

Restrictions in gasoline car partnerships to be phased out starting 2022

China is scheduled to phase out foreign investors' equity cap in commercial vehicle joint ventures starting from late July, as part of its commitment to further opening up the world's largest vehicle market.

The current 50 percent cap, put in place in 1994, will be removed next month for companies that produce commercial vehicles, according to the latest negative list for foreign investment the National Development and Reform Commission and the Ministry of Commerce released last week.

During the first five months this year, commercial vehicles including trucks and buses totaled 1.85 million, down 1 percent year-on-year from the same period last year, according to statistics from the China Association of Automobile Manufacturers.

That could be considered a feat compared with a 27.4 percent fall in passenger vehicles registered in the same period, primarily due to the coronavirus pandemic.

Commercial vehicles account for around one quarter of China's vehicle market, which has been the largest since 2009, and the prospects remain bright in the long run.

Some carmakers including France's Renault have turned their focus in China to commercial vehicles from the highly competitive passenger vehicle market.

The removal of the equity cap in the commercial vehicle sector is part of a three-step measure the commission announced in April 2018 to gradually remove the limits of foreign investment in the country's car manufacturing joint ventures.

The commission said that four decades of reform and opening-up have shown that only opening up can invigorate the market, force companies to innovate and integrate Chinese and international resources.

The cap in the new energy vehicle industry was removed in the second half of 2018 for international carmakers. The limits will be scrapped for gasoline passenger car producers starting from 2022.

US electric carmaker Tesla Inc was the first to benefit from the removal and it kicked off its wholly-owned plant in Shanghai in January 2019. The first vehicle rolled off the assembly line in the same year.

Local production has enabled the carmaker to further cut the costs of its Model 3 electric car, which has been one of the bestselling models in China starting from this year. It is also planning to introduce the Model Y into the Shanghai plant.

German car giant Volkswagen AG is increasing its share in Chinese joint venture JAC Volkswagen to 75 percent, which will enable it to gain control of company management.

Volkswagen said the deal, which is worth around 1 billion euros, will be finished before the end of this year.

"By opening up the market, China is giving Volkswagen new business opportunities," said Volkswagen Group China CEO Stephan Wollenstein in a statement.

Volkswagen said it will introduce five new models by 2025. JAC said in a regulatory filing that Volkswagen will also introduce models under its mainstream brands into the joint venture, which will have an annual capacity of 350,000 to 400,000 units by 2029.

Gasoline passenger cars remain the largest automotive segment in China, accounting for around 76.8 percent of the 7.96 million new vehicles sold in China in the first five months this year.

German premium carmaker BMW inked deals in October 2018 with its Chinese partner Brilliance Auto to raise its stake from 50 percent to 75 percent in its passenger car joint venture BMW Brilliance.

The deal is expected to be closed when rules capping foreign ownership for all auto ventures are lifted.

BMW had extended the term of the joint venture from 2018 to 2040, and said it will invest 3 billion euros to raise its annual capacity to 650,000 vehicles from the early 2020s, which will create 5,000 more new jobs.

The German carmaker is planning to build models, including the electric iX3 SUV, at its Chinese facilities for global markets.

Yale Zhang, managing director of Shanghai-based consultancy firm Automotive Foresight, said removing the cap will result in stiff competition, but it is beneficial for the market as a whole.

"Chinese carmakers cannot rely too much on their joint ventures for profit, which means they have to work harder on their own models. This will help cull the incompetent but cultivate the competitive such as Geely," Zhang said.

"Also, since foreign carmakers are allowed to have larger equity, which means more profit, they will step up their pace of introducing new models into China," Zhang added. "That is a good thing for Chinese customers."

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 亚洲国产精品综合久久久 | 国产精品综合一区二区 | 男人的午夜天堂 | 久久久久国产 | 天天草夜夜 | 久久久久亚洲精品国产 | 男女啪啪高清无遮挡 | 亚洲 中文 欧美 日韩 在线观看 | 一区二区色 | 自拍视频免费 | www.色涩涩.com网站 | 国产一区亚洲 | 日本天天色 | 日韩国产一区二区 | 精品一区不卡 | 日韩超碰在线观看 | 欧美精品成人 | 污视频网址在线观看 | 欧美精品在线一区二区三区 | 国产免费网址 | 久久国产精品久久久久久 | 亚洲三级网 | 亚洲狠狠爱 | 久久99国产精品 | 亚洲成人黄色 | 欧美综合一区二区 | 日韩成人av网站 | 国产一区二区三区久久久久久久久 | 日韩视频免费在线观看 | 精品无码久久久久国产 | 91精品国产精品 | 爱爱视频在线免费观看 | 99精品欧美一区二区蜜桃免费 | 亚州综合一区 | 国产精品色综合 | 欧美成人激情视频 | 密室大逃脱第六季大神版在线观看 | 久草毛片| 国产99久久久国产精品 | 国产一级特黄aaa大片评分 | 久草免费在线视频 |