Investment boost for car, aircraft makers

China's aim to further open up its aircraft and car manufacturing sectors will be beneficial for both local and foreign companies planning to increase their investments, said industry experts.

As part of the country's broader opening-up push, China will phase out the 50 percent equity cap for foreign aircraft and car manufacturers in joint ventures in China, effective on July 28, according to a statement jointly released by the National Development and Reform Commission and the Ministry of Commerce on Thursday.

"This is significant positive news. It will be beneficial for the local manufacturing industry and high-tech aviation companies to expand their investments in China. It will surely help to deepen the collaboration between foreign manufacturers and their Chinese counterparts," said George Xu, CEO of Airbus China.