China Opens Market For Foreign Automakers From January 2022
For the longest period China has been a closed economy but that is now destined to change, at least for foreign auto companies from January 1, 2022. China will be lifting its foreign-ownership limits on automotive companies allowing for full foreign ownership of passenger and commercial automakers in the country. It will do away with the existing system that has limited foreign ownership to only joint ventures, in a bid to promote investment for some of the biggest and most prominent automakers in the world. The country will also lift the…
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