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China plans pilot scheme easing foreign auto firms' ownership limits
November 9, 2017 / 9:33 AM / a month ago

China plans pilot scheme easing foreign auto firms' ownership limits

BEIJING (Reuters) - China will start a pilot scheme to relax foreign firms’ ownership restrictions for new energy and special use vehicles businesses established in free trade zones, the foreign ministry said on Thursday.

In a statement issued after a meeting of U.S. President Donald Trump and China President Xi Jinping, the ministry also said it would gradually cut tariffs for vehicles.

Reporting by Beijing Monitoring Desk; Writing by Se Young Lee; Editing by Clarence Fernandez

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