China will phase out share-holding limits for foreign investors in the automobile sector, the country's top economic planner said last Tuesday.
Share-holding limits for special-purpose vehicles and new energy vehicles will be scrapped for foreign investors in 2018, while those for commercial vehicles and passenger vehicles will be lifted in 2020 and 2022 respectively, according to the National Development and Reform Commission.
The limits will be lifted this year on shipbuilding processes including design, manufacturing and repair, and on production of airplanes including trunk and regional airliners, general-purpose airplanes, helicopters, drones and aerostats, according to the NDRC.
A new negative list for foreign investors will be published as early as possible in the first half of this year.
The opening of the manufacturing industry will be an important part of the new negative list, it said.
The new list will unveil a series of new opening-up measures in fields including energy, resources, infrastructure, transportation, commercial circulation and professional services.
By guiding its manufacturing industry toward a full opening-up, China has demonstrated its stance to fight against trade and investment protectionism and its support for the extensive and in-depth development of economic globalization, said the NDRC.
