China plans pilot scheme easing foreign auto firms' ownership limits

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Thu, 09 Nov 2017 - 09:58 GMT

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Thu, 09 Nov 2017 - 09:58 GMT

China plans pilot scheme easing foreign auto firms' ownership limits - Press Photo

China plans pilot scheme easing foreign auto firms' ownership limits - Press Photo

BEIJING - 9 November 2017: 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.

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