Foreign auto companies optimistic about Chinese market

Foreign auto companies have expressed optimism about the Chinese market and consider China to be among their most important overseas markets, Ministry of Commerce spokesperson Shu Jueting said on Thursday.

In reference to a recent symposium attended by representatives of 17 foreign-invested auto and auto parts manufacturers, Shu said attendees were optimistic about China's long-term stable economic prospects and market potential.

China has lifted foreign ownership restrictions on the auto manufacturing sector, which the representatives said provided broader development room for foreign auto companies, Shu said.

The representatives also expressed willingness to increase investment in new-energy vehicle manufacturing and technology research and development in China, in a bid to seize the opportunities presented by China's transition toward innovation-driven and green growth, Shu said.

Despite challenges such as chip shortages and the resurgence of COVID-19 cases, China's auto production and auto sales respectively rose 3.4 percent and 3.8 percent year on year in 2021.

The new-energy vehicle market saw a particularly stellar performance, with both production and sales exceeding 3.5 million units. ■