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Economy

China's Xi renews pledges to open economy, cut tariffs this year

Updated : April 10, 2018 06:27 PM IST

Xi said China would raise the foreign ownership limit in the automobile, shipbuilding and aircraft sectors "as soon as possible", and push previously announced measures to open the financial sector.
He also said "Cold War mentality" and isolationism would "hit brick walls".
They currently are limited to a 50% stake in joint ventures, and are not allowed to establish wholly owned factories.
China's Xi renews pledges to open economy, cut tariffs this year

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