China's State Administration for Market Regulation Photo: VCG

China's market regulator, the State Administration for Market Regulation, has unconditionally approved Nissan (China) Investment Co's new joint venture with Dongfeng Motor, according to a statement on Friday. 

According to the Chongqing Administration for Market Regulation on July 31, Nissan China and Dongfeng Motor plan to establish a new joint venture in Guangzhou, South China's Guangdong Province, focusing on the export business of complete vehicles, their parts, and automotive accessories. 

Post-transaction, Nissan China will hold a 60 percent equity stake in the joint venture, while Dongfeng Group will hold a 40 percent equity stake. From the perspective of Chinese anti-monopoly law, Nissan China can be deemed to have control over the joint venture, while Dongfeng Group can also exert decisive influence over specific matters of the joint venture.

According to Chongqing market regulator, Nissan China was established on February 9, 2004, in Beijing, with its primary business involving the manufacture and sale of automobiles through its invested companies in China, as well as related research and development activities.


Global Times