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China intends to remove the restrictions on the share of foreign companies in joint ventures for the production of cars by 2022, which will provide significant support to foreign automakers in the Chinese market. The National Development and Reform Commission of the People's Republic of China stated that already in 2018 limits on the share of foreigners in joint ventures for the production of cars operating on new energy sources will be canceled. It is planned in 2020 to remove the restriction on the participation of private capital of the joint venture on the production of commercial vehicles, and in 2022 - the production of passenger cars. Starting from 2022, foreign automakers will also be allowed to create in China more than 2 joint ventures.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
KYC Policy