China encourages foreign auto companies further investment in local market

Beijing (Gasgoo)- China is encouraging foreign enterprises to expand their investments in the world’s largest auto market, according to Vice Commerce Minister Wang Shouwen.

Photo credit: SAIC GM

On March 31st, Wang hosted a symposium with 17 foreign enterprises from the auto industry. 

Wang said China highly values foreign companies’ involvement in the auto manufacturing industry. In the past years, China has been loosening the threshold, optimizing the policies, and strengthening service assurance for foreign enterprises to make their development in the local market easier.  

International automakers are granted broad development opportunities in their technological and electric transformation during China’s innovation and green transformation process. The authorities call on foreign companies to grasp the opportunity and further their investment in the local industry, perfecting the domestic supply chain. 

The Ministry of Commerce will lead regional authorities to reinforce communications with foreign companies and help resolve timely difficulties, offering more comprehensive assurance.

Foreign companies that attended the symposium showed appreciation for China’s efforts to make their operation smoother in the country in the past few years. The companies expressed that China will continue to be one of their most important foreign markets. They will not hesitate to expand their investment in new energy vehicles, power batteries, hydrogen energy, and technology research and development in China, contributing to the local automotive industry’s quality development.