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China to grant full foreign ownership of auto companies by 2022

Beijing claims removal of limits demonstrates its opposition to protectionism

China will remove limits on foreign ownership of auto manufacturers by 2022, ending restrictions that had strained relations with its trading partners, particularly the U.S.

The National Development and Reform Commission announced in a statement on Tuesday that China will scrap foreign ownership limits on new energy vehicle manufacturers in 2018, followed by commercial vehicle makers in 2020 and passenger vehicle companies in 2022.

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