· China has relaxed foreign-invested stocks as soon as possible and lowered the import tax of Tesla

According to foreign media reports, Xi Jinping delivered a speech at the opening ceremony of the Boao Forum for Asia 2018 Annual Meeting. The following two major contents have attracted the attention of the industry: 1. China will next relax the restrictions on foreign shares as soon as possible, especially the foreign investment restrictions in the automobile industry; China will considerably reduce the import tariffs on automobiles.

The announcement of the news made Tesla's investors happy, because in the pre-market trading yesterday (April 10, 2018), Tesla's share price increased by more than 4%.

Tesla CEO Elon Musk has interacted with Trump on Twitter, talking about Tesla’s current 25% import tax in China, indicating that the power of China’s trade protectionism laws is too strong. It limits the shareholding ratio of foreign car companies to Chinese car companies, and it is strictly prohibited to exceed 50%.

The Trump administration team then issued a decree stating that it plans to impose a $50 billion import tariff on Chinese goods, which involves cars. Two days later, the Chinese government countered and added electric vehicles to the list of products with new tariffs. Tesla's share price immediately plummeted, but it rebounded soon.

Fortunately, Tesla's share price has picked up as Xi Jinping declared at the Boao Forum for Asia that the Chinese economy will be open to the world and “significantly” reduce the import tariffs on cars.

Musk made the following description of Xi Jinping's speech on Twitter: This is a very important measure for China. Being able to avoid trade wars is beneficial to all countries.

Xi Jinping also briefly talked about intellectual property rights and foreign investment matters, and encouraged foreign car companies to cooperate with Chinese companies to build factories in China.

Despite the import tariffs, Tesla’s sales performance in China has been good, with sales doubled to more than $2 billion last year.

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