Hong Kong-based auto
dealer Triangle Motor will become the first wholly overseas invested
company to sell vehicles on the mainland, when it opens a dealership
in Guangzhou.
The company plans to sell imported Isuzu Motors branded vehicles.
The Closer Economic Partnership Agreement or CEPA
between Beijing and Hong Kong provides companies from the special
administrative region with greater market access to the mainland
than provided to other World Trade Organization members.
Before the CEPA, only companies with domestic
investors or foreign joint ventures with local partners could
operate automobile retail businesses in mainland China.
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