China carmakers urge foreign ownership cap to remain for 5 years
Beijing
CHINA should keep the 50 per cent cap on foreign ownership in local passenger-vehicle joint ventures (JVs) for at least another five to eight years to ensure Chinese carmakers are ready for full-fledged competition, according to the state-backed auto association.
The government can consider lifting the limit on different parts of the automotive industry according to their maturity, starting with the motorcycle industry in one or two years, followed by commercial vehicles in three to four years, Ye Shengji, deputy secretary general of the China Association of Automobile Manufacturers (CAAM), said on Saturday in Tianjin.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
AirAsia discloses new listing plans under RM6.8 billion units merger