When Chinese Premier Li Keqiang visited Germany last week, BMW Group and Volkswagen Group each signed deals pledging to invest more in their China joint ventures.
And the German automakers obtained something in return -- the opportunity to gain control of local joint ventures before other foreign peers.
What the Chinese government promised the companies was undisclosed in the statements BMW and VW released under new agreements with their Chinese partners, but the State
BEIJING -- China unveiled late Thursday a long-anticipated easing of foreign investment curbs in the auto industry and other key sectors as Beijing moves to open its markets further. China's National Development and Reform Commission published on its website a new version of the so-called negative list, which sets out industries where foreign investment is limited or prohibited, that will take effect July 28. In addition to confirming already announced pledges to fully remove