China Automakers Deflated by Reliance on Foreign Partners
Shares of Chinese carmakers that rely heavily on foreign joint ventures dropped sharply on Monday, following signs that such firms may soon lose control of those ventures under relaxing ownership rules from Beijing.
A third consecutive month of falling car sales in China in September, combined with broader market weakness, further stoked the sell-off, which saw shares of many of the nation’s best-known names slump as much as 7%.
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