BEIJING -- Looser restrictions on foreign investment in China's automotive industry take effect next month, a change expected to smooth the way for multinationals to build new factories and start electric-vehicle businesses in the world's biggest car market.
Effective Jan. 10, Beijing will let provincial authorities grant approval for foreign automakers to establish joint ventures with Chinese partners in passenger car production or set up electric-vehicle subsidiaries. The central government only needs to be notified of the approval.
