The 10 years seem to have passed in a flash and some people still remember all the apprehensions and anticipation, the challenges and opportunities back in 2001 when China joined the World Trade Organization.

Anyone involved with the Chinese economy felt as if they were facing an exam and needed to come up with the right answers.

Well, the marks have been given, and, at least as far as the automotive industry is concerned, everyone is a winner.

These past 10 years have seen an impressive opening-up of the auto market to both Chinese manufacturers and foreign competitors. This has so significantly changed China's auto industry that it is now the largest car producer and consumer in the world.

Chinese shoppers now enjoy the same quality of automobile, no matter what their taste, that consumers anywhere else in the world do.

For example, these 10 years saw rapid growth for FAW-VW Audi, thanks to both the opening up and the competition.

FAW-VW Audi was the first international brand to see the local production of premium cars and cooperation that was advantageous for everyone. Localization, based on Audi's global standards, was at the heart of the development strategy.

After 10 years of development, FAW-VW Audi has become China's most powerful premium car manufacturer and the Audi brand is a leader in the premium car market and "one of the most valuable premium car brands" in the Chinese market.

After a decade of development, FAW-VW Audi has formed a "whole-value-chain of localization" based on Audi's global standards. It adheres to unified global standards and, at the same time, has arrived at extensive localization in R&D, parts procurement, manufacturing, and marketing services.

It has cultivated a large number of top local technicians, management personnel, marketers, and parts suppliers and has contributed to the China's automobile industry.

This whole-value-chain localization makes FAW-VW Audi more competitive and sustainable, and contributes to the employment, taxation and social development in China.