After the news of the auto industry joint stocks will be released, the response of the business community is fast and enthusiastic.
When President Xi Jinping was invited to attend the opening ceremony of the 2018 Annual Meeting of the Boao Forum for Asia and delivered an important keynote speech, he pointed out that China should relax the restrictions on foreign shares as soon as possible, especially the restrictions on foreign investment in the automobile industry. This year we will reduce the import tariffs of automobiles considerably. Reduce import tariffs on some other products. In this regard, the auto industry believes that the decline in import vehicle tariffs and the relaxation of foreign-invested stock ratio restrictions in the auto industry, which will help encourage domestic new ventures to join the competition, will be a key turning point in the future of China's auto industry from large to strong - - Editor's note
On the morning of April 10th, President Xi Jinping was invited to attend the opening ceremony of the 2018 Annual Meeting of the Boao Forum for Asia and delivered an important keynote speech.
According to Xinhua News Agency’s “Xinhua Viewpoint†report, Xi Jinping mentioned two cars in his keynote speech: First, “China will greatly relax market access. In terms of manufacturing, it is now basically open, and the main restrictions are on automobiles. In a few industries such as ships and aircraft, these industries now have an open base. The next step is to relax foreign investment ratios as soon as possible, especially in the auto industry. Second, "this year, we will reduce vehicle import tariffs considerably, while reducing some other Import tariffs on products, strive to increase the import of special advantage products with relatively concentrated needs of the people, and accelerate the process of joining the World Trade Organization's "Government Procurement Agreement."
This also means that foreign-funded stocks that have been in dispute for a long time in the auto industry have a clear answer than the issue of restrictions.
People in the automotive industry collectively like
After the news of the auto industry joint stocks will be released, the response of the business community is fast and enthusiastic.
The founder of Weimar Automobile, Shen Hui, said at the first time: "The biggest feeling in the Boao Forum is the open, cooperative and inclusive atmosphere. The open market is a reflection of self-confidence. The market is open and the benefits must be truly Competitive companies and domestic consumers."
As a participant in the Boao Forum, Xiaopeng Automobile Chairman He Xiaopeng also praised this news. He said: "Great, I have always believed that China's Internet can develop in 20 years, the core is open learning, open competition, open capital, open policies. Import tariffs on automobiles and the relaxation of foreign investment in the automotive industry. The stock ratio is limited. This is a great advantage for China's new vehicle power and civil construction vehicles. The government will certainly encourage domestic new ventures to join the competition. This will be a key to the future of China's auto industry. Turning point."
As early as 2014, Li Shufu, the chairman of Geely Group, publicly called for the release of the joint venture share ratio of the auto industry. Li Shufu said, "Only when the stock ratio is released, the auto industry can have a level playing field and the people can get real benefits."
Hezman, a member of the management board of Volkswagen Group and president and CEO of Volkswagen Group (China), also commented that the Volkswagen Group is very concerned about the discussion of the openness of the joint venture shares in the Chinese auto industry and welcomes this open policy.
The stock has been hot for many years.In fact, the topic of foreign stocks has been heated up for many years in the automotive industry. According to Article 48 of the "Automobile Industry Development Policy": the proportion of Chinese shares in automobile joint ventures, special-purpose vehicles, agricultural transport vehicles and motorcycles in Sino-foreign joint ventures shall not be less than 50%.
However, with the changes in the domestic auto market in recent years, the release of joint venture stocks has become the focus of attention in the industry. At the symposium of representatives of the two representatives of the automobile industry in 2014, Miao Wei, Minister of the Ministry of Industry and Information Technology, pointed out that “within the jurisdiction of the Ministry of Industry and Information Technology, such as steel and chemical fiber, the joint venture shares will be released in an orderly manner, and the automobile industry will be put back. Let go."
At that time, the general concern of the auto industry was that the joint-venture stocks had an impact on the development of independent brands that were on the rise. The opinion in favor of liberalization believes that the share-based ratio restriction policy makes the state-owned automobile group satisfied with the existing market interests, and the independent innovation drive is insufficient.
In April 2016, at the closed meeting of the China Automotive Forum, Miao Wei said that “the long-term 8 years, the short-term 3 to 5 years joint venture stock ratio will be released.†This is the first time the government disclosed the auto joint venture shares. Than the release schedule.
In July of the same year, at a symposium held by the China Association of Automobile Manufacturers, Dong Yang, executive vice president of the China Automobile Association, calculated an account. "In 2014, the profit of the joint venture car enterprise was 67 billion yuan, giving a percentage point. 670 million yuan; if we make concessions on the stock ratio, we will lose the dominant power."
In April 2017, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the three ministries and commissions of the Science and Technology Commission proposed in the jointly issued Medium and Long-term Development Plan for the Automobile Industry that they would improve the domestic and foreign investment management system and orderly release the restrictions on joint ventures.
New energy joint venture project is expected to be released firstAt this point, the automotive industry is generally aware that joint ventures are an inevitable trend than openness, and the industry has begun to focus on how to let go and when to let go.
In fact, in the past few years in the industry, the Chinese auto market has undergone earth-shaking changes. In 2013, the market share of self-owned brand passenger vehicles was 40.3%, and it has increased to 43.9% in 2017.
"The current Chinese automobile industry is not comparable to it 20 years ago. It has accumulated considerablely and can participate in a wide range of international competition. We must face challenges." Fu Yuwu, chairman of the China Automotive Engineering Society, told reporters, "We The technology, capital, team, management, and talent pool are not the same as before. It’s nothing terrible to let go of stocks. It’s just a matter of time to let go."
It is worth noting that the foreign shares of new energy vehicles in the Free Trade Zone will be closer than the release time. On November 9, last year, the website of the Ministry of Foreign Affairs released a message saying that during US President Trump’s state visit to China, the meeting between the heads of state of China and the United States reached a number of important consensuses, among which the consensus related to the automobile industry included “gradually appropriate Reduce vehicle tariffs, and launch pilot projects on the ratio of foreign-funded shares of special vehicles and new energy vehicles within the scope of the Pilot Free Trade Zone before June 2018."
In October last year, Dong Yang publicly stated that “the joint venture stocks of new energy vehicles will be more relaxed than the restrictions. As early as 2018, foreign new energy auto companies will be allowed to establish wholly-owned companies in the free trade zone.â€
Fu Yuwu believes that the newly approved automobile joint venture project is basically new energy. Based on this trend, the foreign-funded share ratio of new energy vehicles will be released first, but the specific policy has not yet been introduced.
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