Posted on Dec. 2021 at 7:35Updated 30 Dec. 2021 at 7:44
A barrier will fall on the 1is January 2022 in the automotive industry. Foreign manufacturers will no longer be forced to join forces with a local partner to set up in China. The Chinese Commerce Ministry and the local National Development and Reform Commission (NDRC) confirmed this on Dec. 27, when the list of sectors subject to such restrictions was released.
The automobile had been on this list since 1994. Foreign manufacturers could also not hold more than 50% of the capital of joint ventures established in the country.
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