·The whole vehicle manufacturing set foreign investment limit list parts companies welcome

A few days ago, the "Guidance Catalogue for Foreign Investment Industries (Revised in 2015)" (hereinafter referred to as "Investment Catalogue") was officially implemented. For the first time, the new edition of the “Investment Catalogue” incorporates automobile manufacturing into the industrial category that restricts foreign investment.
The relevant person in charge of the Foreign Investment Management Department of the Ministry of Commerce said in an interview with the reporter of "Daily Economic News": "The approval authority for future investment in vehicle manufacturing has changed. This applies not only to foreign-invested enterprises that plan to enter the Chinese market for the first time. It also applies to new capacity that has already established a joint venture company in China."
At present, the overall production capacity of China's automobiles has far exceeded the sales of automobiles. However, not only the joint ventures that have been established in China for many years are still preparing for new production capacity, but some foreign brands are also in the Chinese market.
"The introduction of the above regulations is likely to cool down the investment in China's auto vehicles, to some extent alleviate the problem of overcapacity in the overall automobile." A person in charge of the China Association of Automobile Manufacturers told reporters.
It can be expected that in the case of limited vehicle production capacity, foreign investment in core components of new automobiles and new energy vehicles will accelerate.
From "allowed classes" to "restricted classes"
In the “Investment Catalogue” revised in 2015, the restrictions on foreign investment indicate that automobile manufacturing, special-purpose vehicles and motorcycle manufacturing: the Chinese stock ratio is not less than 50%, and the same foreign company can establish two in the country (including two The following joint ventures that produce similar products of the same type (passenger vehicles, commercial vehicles, motorcycles), such as joint ventures with Chinese joint venture partners, may not be restricted by the two.
In fact, the "Automotive Industry Development Policy" promulgated in 2004 clearly clarified the above statement. Therefore, the “Investment Catalogue” has included the whole vehicle production in the scope of restricting foreign investment. It not only clarifies that the automobile industry will still adhere to the 50% shareholding ratio, but also shows that China’s attitude toward foreign investment in automobile manufacturing has changed quietly. . The "Daily Economic News" reporter noted that in the "Investment Catalogue" revised in 2011, automobile manufacturing was removed from the ranks of encouraging foreign investment for the first time, but it was not included in the list of restrictions on foreign investment. According to the "People's Daily" report, the relevant person in charge of the National Development and Reform Commission has said that the catalogue stipulates the categories of encouragement, restriction, and prohibition, and the others belong to the permitted category. This means that the vehicle manufacturing at that time is still in the “allowed class”.
Today, automotive vehicle manufacturing projects are included in the “restricted category”. The relevant person in charge of the Foreign Investment Management Department of the Ministry of Commerce said to the reporter: "The difference between the permitted investment project and the restricted investment project is that, in principle, the former investment of more than 300 million US dollars requires the approval of relevant departments at the provincial and ministerial levels. Projects with an investment of more than US$50 million require approval from relevant departments at the provincial and ministerial levels. “This applies to all new foreign investment in China.” The above-mentioned person in charge added that it intends to enter China to establish a joint venture, existing New investment projects in joint ventures, etc.
The head of the above-mentioned China Automobile Industry Association believes that China's change in attitude towards foreign-invested auto vehicle projects is likely to be an important signal to control vehicle production capacity.
According to the analysis data from international consulting firm IHS Automotive, the overall capacity utilization rate of China's auto industry in 2010 was 91%. It is estimated that by 2015, the automobile production capacity will reach 40 million, and the utilization rate will drop to 68%. Less than 70% capacity utilization "red line".
Not only that, there are reports that Baowo Auto will seek joint venture partners in China to invest in China; Tesla [microblogging] is also frequently contacting domestic automobile manufacturers in order to achieve localized production; it was passed down many years ago. Subaru, a joint venture with Chery, is still accelerating sales in the Chinese market. Some analysts said that the above-mentioned foreign brands still have not given up the idea of ​​joint ventures in China.
However, with the entry into force of the Investment Catalogue, both new joint ventures and new joint ventures will face higher approval thresholds.
New energy and parts industry welcomes opportunities Although China has restrictions on the manufacture of foreign-invested autos, the auto parts industry is gradually being liberalized, and the number of auto core parts listed as “encouraging” is increasing.
In 2004, there were only 12 auto parts projects listed as “encouraging”. With the advancement of technology, the number of such projects in 2007 has exceeded 20, of which anti-lock braking system and body stability system were included for the first time. Although the number of parts and components that were listed as encouraging foreign companies to enter after the revision of the Investment Catalogue in 2011 did not increase significantly, the gearbox component project was first included.
In 2015, the number of auto parts that were included in the investment encouragement was further increased. Taking the gearbox as an example, the “Investment Catalogue” revised in 2015 also added a continuously variable transmission and an electromechanical transmission according to the revised version in 2011.
Not only are the number of parts that foreign investors can invest in, but the number of restricted projects is also decreasing year by year. The reporter found through comparison that in the field of automotive electronics, where the development level of China is still lagging behind, the number of projects that foreign companies need to enter this field through joint venture and cooperation has decreased from 6 in 2007 to 2 in 2011.
A component manufacturer told the reporter of "Daily Economic News": "At present, China's parts and components enterprises are less competitive, and the product technology content is low. In the field of vehicle, although they have been cooperating for more than 30 years, the technology is outside. In the hands of the party, the Chinese side is difficult to grasp. Through the gradual liberalization of the core components, we can create a level playing field and force our parts and components enterprises to improve their R&D and manufacturing levels."
According to the "People's Daily" report, the relevant person in charge of the National Development and Reform Commission said that encouraging foreign investors to invest in high-tech and advanced manufacturing industries will help to adjust and optimize the economic structure, which is one of the important purposes of this year's "Investment Catalogue" revision.
It is worth mentioning that the core component industry of new energy vehicles has also undergone a process from scratch, and it was not officially included in the list of encouraged foreign investment projects until 2011.
Some analysts believe that with the rapid development of China's new energy (33.96, 0.70, 2.10%) industry, the demand for upstream support is increasing, and the types of new energy core components that will encourage investment in the future may be further refined. Further increase.

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