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Automobiles

China scraps foreign investment curbs in auto sector

Overseas carmakers can have wholly owned units in the country in 2022

A BMW i4 concept car at the Beijing International Automotive Exhibition. With the foreign investment rules scrapped, BMW aims to raise its stake in a Chinese joint venture.   © Reuters

BEIJING -- The Chinese government has abolished limits on foreign automakers' investments in the passenger vehicle sector, effective next year, sweeping away the last major restriction on global players.

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