| In 1994,the state council promulgated the "industrial policy on automobile industry"to protect China’s then immature automobile industry and its own automobile brands,which set a limit of no more than 50%for for eign equity in the automobile industry.Since then,the policy has been implemented in China for 24 years.On April 7,2018,the national development and reform commission(NDRC)made it clear that it would phase out the stock ratio restrictions on China’s auto industry.To datec China has become the world’s largest auto manufacturer and the world’s largest auto market.The stock ratio policy directly affects the breadth and depth of foreign investment in Chinese enterprises.The study on the impact of stock ratio restrictions on the operating performance of the automobi le industry has guiding significance for the automobile industry to deal with the opportunities and threats brought by the stock ratio liberalization.Shanghai automotive group co.,LTD.(hereinafter referred to as "Saic")is the largest listed automobile company in the domestic a-share market.Its main vehicle joint ventures include Shanghai Volkswagen automobile co.,LTD.,Saic general motors co.,LTD.,and Saic-gm-wuling automobile co.,LTD,Under the premise that these restrictions,the balanced scorecard performance evaluation method,combining with the critical incident method,to the Saic group’s overall business performance and its perf-ormance of the sino-foreign joint venture in a comprehen sive comparative analysis,evaluation of a joint venture Shanghai automotive industry corporation subordinate to the overall business performance,the influence degree and way to reflect the effects of operating performance ratio limit of Saic,stand in the perspective of Saic group is China’s auto industry leading,extends to the capital ratio on the impact of China’s automobile in dustry,and gradually in the shares of the open policy environment,based on the opportunities and th reats facing the automotive industry,put forward some feasible suggestions for the development of China’s automobile industry.It is found that the restriction of equity ratio has a positive impact on the development of Saic to obtain high profits and protect its own brand,while a negative impact on its independent research and development capability.This study puts forward Suggestions to the government,automobile associations and enterprises.In the current situation of lack of relevant studies,the research conclusions have a positive impact on how Chinese enterprises and industries deal with the openness of the equity ratio. |
