China Carmakers Urge Foreign Ownership Cap to Remain for 5 Years

  • Government should use phased approach: China auto association
  • Foreign carmakers limited to 50% ownership of Chinese ventures

China should keep the 50 percent cap on foreign ownership in local passenger-vehicle joint ventures 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.

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