Besides the fact that China's auto market is booming, the country has another massive attraction for Renault in terms of Formula One racing.
Patrick Faure, who heads up Renault's F1 team as well as its truck division, said: "There is a massive following for Formula One in the Far East and with the first Shanghai Grand Prix taking place next year its popularity could explode. I would not be surprised to see a Chinese F1 team within a few years - and that could be an opportunity for us."
Faure sees enormous potential for brand awareness in the country if Renault were to have a stake in any future Chinese team.
The potential is already being realized on a smaller scale thanks to the Renault F1 team's young Spanish driver Fernando Alonso. "He has been driving very well this season and getting more points than we expected. As a result Renault's image and sales have improved unexpectedly in Spain this year," said Faure.
"By having a second team," he added, "this would provide a good training ground and test bed for drivers, engineers, technology and engines. Of course a Chinese team would have a lot of benefits."
Faure said that performance of the Renault F1 team was running to schedule. He hopes to start winning grands prix next season and going for the world championship in the season after that.
Faure added: "We certainly want to be in the top three teams competing for the championships within the next couple of years."