Date
19 August 2017

CAAM wants current foreign ownership rules to stay, report says

The Chinese government should stick with the current rule where foreigners cannot own more than 50 percent stake in any auto venture in the country, Caijing.com cited a senior official from the China Association of Automobile Manufacturers (CAAM) as saying. CAAM secretary-general Dong Yang said in an article posted on the association’s website that the bottom line is to protect the domestic brands, which are currently are at a disadvantage in terms of technologies and management know-how, the report said. The comments came after the Ministry of Commerce said recently that it is prepared to ease the market access for foreign automakers.

– Contact HKEJ [email protected]

TL/AC/RC

 

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