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China welcomes foreign investment in auto industry: spokesperson

(Xinhua)    10:30, January 11, 2019

BEIJING, Jan. 10 (Xinhua) -- China welcomes foreign companies to make investment and tap into the opportunities in its automobile market, a trade official said Thursday.

The demand is huge for new energy vehicles (NEVs) and other automobile products in China as the market is entering a new phase that features diversified demand and quality-oriented purchases, Gao Feng, the spokesperson of the Ministry of Commerce, said at a press conference.

Gao's remarks came after the U.S. electric carmaker Tesla Inc. broke ground on its first overseas factory in Shanghai on Monday.

Tesla's new factory will be a boon to the development of China's NEV sector, pushing forward industrial upgrades and bringing domestic buyers more choices, Gao said.

As the first carmaker to set up a wholly-owned company in China, Tesla has witnessed and benefited from the new round of China's opening up to the outside world, Gao said.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Shi Xi, Liang Jun)

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