An eye-catching phenomenon was witnessed during China's president Xi Jinping's European tour in March, where he attended three events respectively on contract signing between Chinese automobile enterprises and their European trade partners.
It is unprecedented for a top Chinese government leader to witness the signing of three different cooperation agreements between Chinese and foreign automobile companies within four days, in Paris and Berlin separately, reported China Economic Net.
From collaboration programs involving China's three largest automobile groups - the FAW Group, SAIC Motor and Dongfeng Motor - it is obvious that China's automobile industry is attempting to meld into the global automobile network, said the report.
The first of the three cooperation agreements was between Dongfeng Motor and PSA Peugeot Citroen, a French multinational automobile maker, which was signed on March 26 in Paris.
Dongfeng purchased 14% of PSA shares for ?800 million (US$1.1 billion).
On March 28, the Beijing Automobile Group signed a strategic cooperation agreement with Daimler AG in Berlin. The accord centered around spending a billion euros to double Beijing Mercedes output to 200,000 vehicles by 2015.
The next day, Volkswagen signed a joint statement with FAW Group and SAIC Motor in Berlin, pledging to continue its collaboration with its Chinese partners for the development of pioneering technologies and high-efficiency engines, as well as the exploration of new energy resources.
In light of a globalizing world economy, the three agreements reflect the increased importance international companies are attaching to the Chinese market.