China's Finally Ready To Ease Ownership Rules On Foreign Carmakers

China removes limit on foreign automakers Tesla is poised to benefit quickly

It also signals the end of a rule put in place in 1994, in which the world's largest auto market limited foreign carmakers to owning no more than a 50 percent share of any local venture.

GAC is China's number six auto maker and it invested 1.2 billion yuan ($191 million) with a Chinese partner to develop smart new energy cars previous year.

China's state policy planner, the National Development and Reform Commission (NDRC), announced that that the country will scrap foreign investment limits (link in Chinese) for auto manufacturing, beginning with new energy vehicles this year, a category that includes both hybrid and fully battery-run vehicles. Tesla, however, was opposed to the idea and wanted to retain sole ownership of the facility. BMW, in talks to establish an electric MINI joint venture with Great Wall Motor Co., said it will make any decision through consensus with its partners, adding that it plans to continue and expand its existing venture with Brilliance Auto.

"We have no plans to change our investment ratio", said Keitaro Nakamura, a China-based spokesman for Honda Japan, which operates joint ventures with local state-run automakers Guangzhou Automobile Group and Dongfeng Motor.

"Nearly all the major global brands have set up their joint-ventures with Chinese partners and it will be unreasonable for them to add many new production lines in the market", Chen said.

Those losing out include local new-energy vehicle makers such as BAIC Motor Corp. and BYD Co., with BYD in particular set to face tougher competition from any lower-priced Teslas, said Dan Zhuang, an analyst at Rhb Osk Securities Hong Kong Ltd. The joint venture structure was now so ingrained that many automakers might not want to change it.

"While getting a bigger share could be advantageous in terms of boosting profits, they may actually be already too dependent on their Chinese partners to sever those ties".

What Crypto Exchanges Are Saying About NY's New Inquiry
Coinbase suspended its own trading of bitcoin cash, an alternative version of bitcoin , in December 2017 after seeing a wild price increase on other exchanges before its launch on Coinbase.

Netflix Is Now Home To 125 Million Subscribers
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . That question is fully answered by a report from equity analyst Benjamin Swinburne from investment bank Morgan Stanley.

Netflix shares surge seven percent on subscriber gains
US streaming revenues totaled $1.8 billion from 56.7 million total memberships, reflecting a net addition of 1.96 million. TRADEMARK VIOLATION NOTICE: This piece was first reported by StockNewsTimes and is the property of of StockNewsTimes.

The liberalisation meets a longtime demand of the United States and other countries seeking better access for their companies in the world's biggest vehicle market and one of the largest markets for air travel.

A senior General Motors (GM) executive said last week the United States carmaker, even without ownership caps, would not cut ties with local partner SAIC Motor Corp. The source, who asked to remain anonymous because of the sensitivity of the matter, also said that GM would not be as successful in China on its own. General Motors said its growth in China is a result of working with its partners, and that it would keep doing so.

SAIC General Motors Sales Co., Ltd.is a joint venture between GM China and SAIC that was established on November 25, 2011.

Geely has bought a almost 10 percent stake in Daimler, becoming the German automaker's biggest shareholder and gaining leverage to push for technology sharing.

Other automakers are encouraged by the news.

The move may help diffuse tensions between China and the USA after President Donald Trump's intensified rhetoric risked an all-out trade war.

Related News:

  • Indivior (LON:INDV) Rating Reiterated by Royal Bank of Canada

    Indivior (LON:INDV) Rating Reiterated by Royal Bank of Canada

    The companyÂ's stores formats include cafés, concessions, brasseries, takeaways, kiosks, and an online channel. The firm operates through Flybe UK and Flybe Aviation Services divisions.Last it reported negative earnings.
    Limerick motorists urged to excercise caution as weather warnings remain in place

    Limerick motorists urged to excercise caution as weather warnings remain in place

    Misty at first tomorrow Wednesday, with patchy light rain or drizzle about, but persistent rain in western coastal counties. Seems like a decade since it's been warm and since we've seen sun. "However, I wouldn't go as far as calling a heatwave".
    Donald Trump reports 'high level' talks with North Korea

    Donald Trump reports 'high level' talks with North Korea

    Japanese officials have signaled Abe will raise his concerns about direct talks during his two-day summit with Trump. Japan was the only major United States ally not to be exempted from Trump's tariffs on steel and aluminum imports.
  • BJP berth gambit as Jammu unit boils

    BJP berth gambit as Jammu unit boils

    There was no need to resign had the media not created such a perception, the BJP leader said. However, on Saturday, Mehbooba Mufti and her party said the alliance was safe.
    Florida woman hit in face with puck at National Hockey League  playoff game

    Florida woman hit in face with puck at National Hockey League playoff game

    By scoring New Jersey's first goal Monday, Hall relieved the pressure on his team and the mounting tension in the building. Goalie Cory Schneider came off the bench to help the Devils stay in the game with 10 saves, nine in the final period.
    Steven Spielberg dive-bombs the DCEU with deal to produce and direct Blackhawk

    Steven Spielberg dive-bombs the DCEU with deal to produce and direct Blackhawk

    Spielberg, 71, has a real time net worth of $3.6 billion after almost six decades of filmmaking, according to Forbes magazine. Steven Spielberg is finally taking on a superhero movie.
  • When Sachin played 'gully' cricket

    When Sachin played 'gully' cricket

    Sachin Tendulkar also is a co-owner of the badminton team Bengaluru Blasters, which participates in the Premier Badminton League. Shared by a fan, it shows the following: A white vehicle stops next to a bunch of men playing cricket on the streets.
    Document: White House Letter of Notice to Congress on Syria Strike

    Document: White House Letter of Notice to Congress on Syria Strike

    Under the US Constitution , Congress, not the president, has the right to authorize war. Many in Congress supported the strikes, and others, such as Tennessee Republican Sen.
    One dead as plane forced to land in Philly

    One dead as plane forced to land in Philly

    In an email to parents, assistant principal Amy McCarty wrote that "the family needs all the prayers we can offer". ET, and they were met by emergency crews who evacuated the 143 passengers and five crew members onboard.
  • PBS NewsHour/Marist Poll: Republicans Sour On Mueller, FBI

    PBS NewsHour/Marist Poll: Republicans Sour On Mueller, FBI

    Senate Majority Leader Mitch McConnell talks to reporters with Sen John Barrasso (left) and Senate Majority Whip John Cornyn following the Senate Republican policy luncheon at the US Capitol April 17, 2018 in Washington.
    Kendrick Lamar wins Pulitzer Prize for rap

    Kendrick Lamar wins Pulitzer Prize for rap

    Some pooh-poohed Lamar's win - one classical composer called it "insulting" on his Facebook page - but many others embraced it. The album also went platinum earlier this month and even won the award for the Best Rap Album at the 60th Grammy Awards.
    Dez Bryant opens up on his team preferences in free agency

    Dez Bryant opens up on his team preferences in free agency

    On Tuesday, Bryant revealed that the New York Giants are in fact a potential destination for the 29-year-old. Playing with him, Sterling [Shepard ]. the tight end [Evan Engram ], [Eli] Manning? Crazy. ...


Most liked

Brown drops 30 as Celtics seize 2-0 series lead over Bucks
Game 3 is Friday night in Milwaukee. - The Celtics' second-quarter performance was much better Tuesday night than it was Sunday. Wizards guard Bradley Beal missed eight of his 11 shots and finished with nine points with a point differential of minus-34.

James Rodriguez sees Ronaldo as goal-scoring machine
We want to make the final and we'll go out there against Real with our sights set firmly on that. "I am with Bayern for James". Real Madrid have reached an agreement with Manchester United over star goalkeeper David de Gea, a report claims.

Tuesday's National Basketball Association roundup: Raptors roll by Wizards, take 2-0 series lead
Overall, the point guard still put up strong numbers as he ended the game with 23 points, 15 assists, four steals and two blocks. Delon Wright added 11 points, while Serge Ibaka chipped in with 10 for the Raptors , who had 13 three-pointers on the night.

International Champions Cup: Real Madrid to play Manchester United, Juventus and Roma
For now, we have organised a friendly with Liverpool FC in Dublin on 4 August". Tottenham in Minneapolis Barcelona vs. Real Madrid in Miami AC Milan vs.

Barcelona coach Valverde defends selection for Celta Vigo draw
Another milestone was set when French youngster, Osumane Dembele scored a attractive volley to open his La Liga goals account. Valverde will purportedly make the biggest changes up front, with Lionel Messi and Luis Suarez tipped to rest.

Alibaba Group Holding (BABA) Shareholder Newport Asia LLC Decreased Stake
RBC Capital Markets maintained Alibaba Group Holding Limited (NYSE: BABA ) on Thursday, August 13 with "Outperform" rating. In Thursday, January 25 report China Renaissance Securities (US) Inc. maintained it with "Buy" rating and $230.0 target.

Sri Lanka at Gold Coast Games 2018
With the Outdoor Track Season expected to kick off in May, most elite athletes were notably absent in Gold Coast . Griggs and Holmes were both part of Seven's Sydney Olympic Games coverage in 2000. "And they were inspirational".

Which insiders are selling Johnson & Johnson (JNJ)?
Franklin Street Nc holds 82,405 shares or 1.72% of its portfolio. 9,227 are held by Great Lakes Ltd Limited Liability Company. It increased, as 35 investors sold JNJ shares while 884 reduced holdings. 143 funds opened positions while 654 raised stakes.

Supreme Court dismisses Microsoft, DoJ privacy case
Microsoft challenged the warrant, arguing that prosecutors could not force it to hand over customer emails stored overseas . Microsoft had argued that under the Stored Communications Act (SCA), warrants have territorial limits.

Macron Warns Europe Against 'Authoritarianism'
MEPs applauded Macron when he said democracy "is a word with meaning, which emerged from the battles of the past". Macron's address was nevertheless generally well received.

Crude bomb explodes near Indian facility in Nepal
According to superintendent of police Arun Kumar BC of Morang district, the blast damaged the outer wall of the camp office. Army spokesman Colonel Vijay Thapa said the blast was caused by a crude bomb made in a pressure cooker.

Canada will talk to pipeline firm about aid to solve crisis: PM
Horgan also would not elaborate on the "legislative and financial measures" promised by Trudeau to push the project forward. Politically, the dispute pits New Democratic Party governments in Alberta and British Columbia against each other.

Michael and Lucy Oliver: Uefa 'strongly condemns' abuse after Gianluigi Buffon criticism
A spokesperson for Twitter confirmed that several offensive tweets reported by Lucy Oliver have been removed for violating its abuse policy.

Iranian drone launched from Syria was on attack mission, Israel says
Israeli officials said the drone, which the IDF found had been weaponized and on an offensive mission, was launched from T4. Israel shot down an Iranian explosives-laden drone after it breached Israel airspace from Syrian territory.

NYC Mice Carry Antibiotic-Resistant Bacteria
These included the culprits in sometime serious intestinal infections: E. coli , shigella, salmonella and Clostridium difficile . Now new research finds these furry animals carry bacteria that can cause abdominal pain or gastrointestinal distress in humans.