China's 1st Foreign-Owned Auto Dealer To Open

25/01/2005

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.