Recently, the national development and Reform Commission and the Ministry of Commerce officially issued the Special Administrative Measures for foreign investment access (negative list) (version 2021). In the field of automobile manufacturing, the restriction on the proportion of foreign capital in passenger car manufacturing and the restriction that the same foreign investor can establish two or less joint ventures producing similar vehicle products in China will be abolished from January 1, 2022. This means that the five-year transition period of the automotive industry released by the national development and Reform Commission and the Ministry of Commerce in 2018 has ended, and the restrictions on foreign investment in the field of domestic complete vehicles have been lifted from special vehicles, new energy vehicles to commercial vehicles, and finally to passenger vehicles. In this regard, industry experts said that the liberalization of the ratio of foreign shares will have a certain impact on the pattern of the domestic automobile industry. Independent brand cars will face more fierce competition, and some weak independent brand cars may accelerate their withdrawal from the market. However, after years of development, the quality and brand of China's independent brand vehicles have been greatly improved, especially the independent brand new energy vehicles have developed rapidly. The liberalization of foreign share ratio will further promote the development of these advantageous independent brand cars. Since 2021, in the face of adverse conditions such as epidemic situation, "core shortage" and rising raw material prices, China's automobile industry has still walked out of a beautiful rising line, showing the strong development toughness and endogenous driving force of the industry. In particular, independent brand cars have maintained a sustained growth trend. According to the data of China Automobile Association, in the first 11 months of 2021, a total of 8.406 million Chinese brand passenger cars were sold, with a year-on-year increase of 25.1%, accounting for 44.1% of the total passenger car sales, the share increased by 6.4 percentage points over the same period of last year, and the market share maintained growth for 8 consecutive months year-on-year. Fu Bingfeng, executive vice president and Secretary General of China Automobile Industry Association, said that with the promotion of technological transformation of "electrification, networking and intelligence", the vitality of Chinese automobile enterprises has increased significantly, and the market consumption demand continues to show the trend of quality improvement and upgrading. Experts pointed out that in recent years, Chinese brand cars have been greatly improved in terms of appearance, quality and intelligent Internet configuration. Compared with the products of joint venture brands, some advanced configurations even surpass the joint venture products and have strong competitiveness overseas. Moreover, the price of export products is no lower than that of foreign brands, which shows that the competitiveness of Chinese brand automobile products is enhanced. (outlook new era)