HEADLINE China to lift foreign ownership limits on automobile, shipbuilding, airplane manufacturing

HEADLINE

China to lift foreign ownership limits on automobile, shipbuilding, airplane manufacturing

Xinhua

16:47, April 17, 2018

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Concept plan of future new energy vehicles. (Photo: VCG)

BEIJING, April 17 - China will phase out share-holding limits for foreign investors in the automobile, shipbuilding and airplane manufacturing sectors, the country's top economic planner said Tuesday.

Share-holding limits for special-purpose vehicles and new energy vehicles will be scrapped for foreign investors in 2018, while those for commercial vehicles and passenger vehicles will be lifted in 2020 and 2022 respectively, said the National Development and Reform Commission (NDRC).  

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The limits will be lifted on shipbuilding processes including design, manufacturing and repair, and on production of airplanes including trunk and regional airliners, general-purpose airplanes, helicopters, drones and aerostats, according to NDRC.

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