GM China, which operates in the mainland through its joint venture with SAIC, is reportedly facing investigation for potential antitrust violations.

The investigation is believed to be carried out by China's National Development and Reform Commission. It is speculated that some of the JV's dealerships were probed for their retail pricing policies. 

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The news comes amidst growing acrimony between the US and China. President-elect Donald Trump has called for imposing stiffer tariffs on Chinese goods. And such action is likely to have a deep impact on trading relationships between the two countries.

According to Bloomberg, GM did not issue any statement about the matter. Irene Shen, a company spokeswoman, said that the company respects local laws and regulations and does not comment on speculations. The National Development and Reform Commission (NDRC) has also not provided any answer to the request for comment.

The report had a negative impact on automaker stocks in the US stock market. General Motors and Ford Motor saw their scrips declining.

Reacting to the report, Jason Miller, a spokesman for the transition team for Trump, said, "The president-elect has made very clear that he's going to get out there and fight for American companies and American jobs, and that's something he has not been shy about doing so far."

China is the world's biggest vehicle market. Any setback in the market may have significant repercussions for GM. The company derived more than a third of its sales volume in 2015 from Chinese market. China also contributed nearly 20 percent of the company's global net income in the same year.

TagsGM, china, saic