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Foreign holdings of Chinese auto joint manufactures is capped at 50 percent.
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Chinese auto products are hopefully competitive in this type of market, Huang said.
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Chinese auto companies have attempted several overseas acquisitions in recent years with mixed results.
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Losses on the day weighed on the Chinese auto sector listed in the offshore market.
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They are leveraged to the Chinese auto market which is continuously getting better, he added.
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But the shares of Chinese auto parts maker China Zenix Auto International Ltd ZX.N fell.
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Beijing Motor is offering investors a glimpse under the bonnet of the Chinese auto industry.
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Supplier Yanfeng Visteon agreed to use BlackBerry's instrument-cluster software with an unnamed Chinese auto maker.
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Expecting such policy support, several Chinese auto makers have launched major plans to make green vehicles.
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The booming Chinese auto market remains one of the few bright spots for German luxury carmakers.
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He said Chinese auto makers were among those interested, but declined to name any of them.
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So don't underestimate the ambition or the ability of Chinese auto makers to come up quickly.
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It also has significant tie-ups with Chinese auto makers Jiangling Motors Corp and Dongfeng Motor Group.
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Li said he did not think the conditions were right for consolidation in the Chinese auto sector.
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GM holds 49 percent of the venture, which commands the leading position in the Chinese auto market.
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Analysts said on Wednesday that a separate Chinese action would undercut confidence in the Chinese auto market outlook.
