Tao Lin said the China-made Tesla cars will feature many Chinese elements and localized transformations. For example, the new Model 3 sedans will provide traditional Chinese games such as mahjong and Chinese poker.
Prior to the made-in-China Model 3 cars, the price of an imported Tesla Model 3 vehicle stood above 439,900 yuan (about 63,000 U.S. dollars) in the Chinese market. The Shanghai-made sedans start at 355,800 yuan. In its financial report, Tesla believes that China could become the biggest market for the Model 3.
Even though foreign investment worldwide has declined for three consecutive years, it has maintained momentum with emerging new stores and factories in Shanghai.
The first 11 months of 2019 saw 6,168 new foreign-invested projects in Shanghai, an increase of 29.3 percent year on year. Foreign investment in contracts reached 45.934 billion U.S. dollars, up 14.6 percent compared to the same period in 2018.
Foreign direct investment expanded 6 percent year on year to 845.9 billion yuan on the Chinese mainland in the first 11 months of 2019, according to the Ministry of Commerce.
During this period, China attracted 722 large-scale foreign investment projects, with each worth more than 100 million U.S. dollars, an increase of 15.5 percent.
Since the beginning of last year, China has rolled out concrete policies and legislative measures to improve its business environment. For example, fewer access-limiting measures exist on the two negative lists in China, one for the pilot free trade zones (FTZ) and one for the rest of the country. Pilot FTZs now have 37 listed items for foreign investors, down from 45, while non-FTZ areas have 40 items instead of 48.
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