China considers pilot scheme easing foreign auto companies’ ownership restrictions

China considers pilot scheme easing foreign auto companies’ ownership restrictions

In the first half of 2018 China will launch a pilot scheme for the purpose of relaxing restrictions on foreign companies’ ownership of new energy as well as special use vehicles businesses set up within free trade zones, as the foreign ministry informed on Thursday.

In a statement published after a gathering of China President Xi Jinping and US President Donald Trump the ministry also told it would gradually reduce tariffs for cars.

The promise comes as Tesla intends to build a factory in Shanghai. The given electric car maker is eager to expand its presence in the Chinese ascending electric vehicle market without compromising its intellectual property norms or independence.

China, levying a duty of 25% on imported cars, hasn’t permitted foreign car makers to establish wholly owned factories in the world's number one car market. Rumors say this Asian country is about to enable foreign investors to lift stakes in new electric car companies.

Similar

Will oil change the trend after OPEC meetings?
Will oil change the trend after OPEC meetings?

Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.

Latest news

Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera