Carmakers welcome reform
By Li Fusheng | China Daily | Updated: 2018-04-26 07:46
Foreign companies positive on pledge to lift JV equity cap
China's move to open up its automotive industry is winning applause from international carmakers at the ongoing Auto China, the biggest car show in the world's largest car market.
Last week, China announced plans to scrap the decades-old 50 percent cap on foreign equity in automotive ventures by 2022.
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