An open city: working miracles, embracing future

Tesla is the first wholly foreign-owned auto-manufacturing project in China.

Provided by Jiefang Daily.

On the front page of Jiefang Daily on July 11, 2018, there were two pieces of news: Tesla's first overseas Gigafactory settled in Shanghai; and Shanghai's 100 action plans to expand its opening-up.

The two events happening on the same day are somehow coincidental, but they do have an inherent connection: Openness has been the most distinctive characteristic of Shanghai, and Tesla's arrival in Shanghai is the latest achievement of the city's expanding opening-up.

Tesla is the first wholly foreign-owned vehicle manufacturing project in China. Starting from this, China has gradually lifted the restrictions on foreign shareholding in the auto industry. On January 1 this year, the policy of a "50 percent cap on foreign ownership" in China's auto industry, which has been in place for nearly 30 years, completely retired from history.

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