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Business trends

Xi Jinping's gift is intended for Chinese automakers

Looser rules for foreign brands will leave them boxed in

TOKYO -- China's promise to make it easier for foreign automakers to operate their own factories in the country is designed to ease trade tensions and ensure continued growth of the domestic auto industry.

Currently, foreign carmakers are required to set up joint ventures with local partners before building factories in China. Foreign makers are allowed to partner with up to two Chinese companies and own up to 50% of the resulting joint ventures.

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