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The problems in China's pricing reform have not been fundamentally relieved over the past several years, leading to improper resource distribution, an imbalanced structure and extensive development of the economy.

To solve the problems raised by the surging number of automobiles in China, including traffic jams, energy consumption and emissions, it is critical to innovate systems and mechanisms.

Joint venture automobile firms have been a strong force driving the development of the automobile industry in China over the past 30 years. In a new phase, with the car industry's focus strategically changing from quantity to quality, joint ventures will take on new meanings.