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China to allow more foreign ownership of green auto ventures

Beijing announces wider market access in multiple sectors during Trump visit

An electric car dealership in Shanghai on Jan. 11.   © Reuters

BEIJING -- China is launching a limited pilot program allowing foreign capital to acquire majority stakes in joint ventures that produce new-energy vehicles.

The government currently restricts foreign ownership of such enterprises to 50%. But by next June, overseas investors will be allowed to raise their interest past that threshold in joint ventures located in one of the designated free-trade zones.

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