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Automotive Except for special-purpose vehicles, new energy vehicles and commercial vehicles, foreign investment in manufacturing of whole vehicles are limited to Sino-foreign joint ventures and the Chinese shareholder(s) must hold at least 50% of the shares of the joint venture. In addition, one foreign investor may only establish up to two joint ventures that produce the same category of whole vehicle products within Mainland China. China announced that in 2022 foreign ownership caps and number of investments will be removed. Removal of joint venture requirement Full market access to new energy vehicles Financial Services Removal of joint venture requirement Removal of foreign equity cap

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