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Business deals

BMW to take control of China venture in first for foreign maker

Beijing plans to phase out investment restrictions

BMW is set to become the first foreign automaker to take a more than 50% stake in a Chinese joint venture as the country moves to scrap long-held restrictions on investment.   © Reuters

FRANKFURT, Germany/BEIJING -- BMW is expected to become the first foreign automaker in China to take a majority stake in a joint venture as Beijing moves to lift investment restrictions.

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