China will lift ownership limits on some foreign car makers by the end of 2018
Beijing — China announced a timeline for lifting ownership limits on foreign car makers on Tuesday, meeting a long-standing demand of the US and other countries seeking better access for their companies in the world’s biggest car market. The country will end shareholding limits for new energy vehicle firms such as those that produce electric cars this year, according to the National Development and Reform Commission (NRDC). The move will be followed by commercial vehicles in 2020 and passenger cars in 2022, when it will also do away with the restrictions limiting foreign vehicle makers to two joint venture partners, the NRDC said in a statement. "After a five-year transition period, the auto sector will lift all restrictions," the NRDC said. President Xi Jinping announced the plans last week without providing any details. Xi’s announcement was among a raft of measures that were seen as potential concessions to US President Donald Trump as they face a potential trade war. The NDRC al...
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