Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
»
1-min read

China Plans Pilot Scheme Easing Foreign Auto Firms' Ownership Limits

China, which levies a duty of 25 percent on imported vehicles, has not allowed foreign automakers to establish wholly-owned factories in the world's largest auto market.

Reuters

Updated:November 10, 2017, 10:44 AM IST
facebookTwitterskypewhatsapp
China Plans Pilot Scheme Easing Foreign Auto Firms' Ownership Limits
U.S. President Donald Trump and China's President Xi Jinping meet business leaders at the Great Hall of the People in Beijing, China, November 9, 2017. (Photo: Reuters)
Loading...

China will start a pilot scheme in the first half of next year, aiming to relax restrictions on foreign firms' ownership of new energy and special use vehicles businesses set up in free trade zones, the foreign ministry said on Thursday.

In a statement issued after a meeting of U.S. President Donald Trump and China President Xi Jinping, the ministry also said it would gradually cut tariffs for vehicles.

The pledge comes as Tesla plans a factory in Shanghai. The electric car maker wants to expand its presence in China's growing electric vehicle market without compromising its independence or intellectual property norms.

China, which levies a duty of 25 percent on imported vehicles, has not allowed foreign automakers to establish wholly-owned factories in the world's largest auto market. Media say it is considering allowing foreign investors to increase stakes in new electric vehicle firms.

The foreign ministry also urged the United States to ease controls on exports of high-tech products to China and support China International Capital Corp Ltd's application for a financial business license in the country.

| Edited by: Manav Sinha
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results