Caixin
Apr 10, 2018 07:40 PM
BUSINESS & TECH

President Relaxes Restrictive Auto Policies

Cars await export in the port city of Lianyungang in East China's Jiangsu province. Photo: VCG
Cars await export in the port city of Lianyungang in East China's Jiangsu province. Photo: VCG

China will ease restrictions on foreign ownership of local car-making plants and sharply lower auto import tariffs this year, President Xi Jinping said Tuesday, putting an official stamp on months of related talk of such actions.

Xi’s announcement, in his keynote speech at the Boao Forum in South China’s Hainan province, came after months of signals about market-opening for the important auto industry by policymakers and government officials.

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