China to phase out shareholding limits for foreign investors in manufacturing sectors

China will scrap shareholding limits in the automobile, shipbuilding and airplane manufacturing sectors for foreign investors, the National Development and Reform Commission said on April 17.

Shareholding limits for special-purpose vehicles and new energy vehicles will be scrapped for foreign investors in 2018, while those for commercial vehicles and passenger vehicles will be lifted in 2020 and 2022 respectively.

The limits will be lifted this year on shipbuilding processes including design, manufacturing and repair, and on production of airplanes including trunk and regional airliners, general-purpose airplanes, helicopters, drones and aerostats.