China to phase out automobile share-holding limits for foreign investors

BEIJING - China will phase out share-holding limits for foreign investors in the automobile sector, the country's top economic planner said Tuesday.

Share-holding 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, according to the National Development and Reform Commission.