Report: China to allow more access to foreign companies

Politics 12/12/2018, 3:53 PM
Report: China to allow more access to foreign companies

China is preparing a new policy to allow for greater access for foreign companies, the Wall Street Journal reported on Wednesday citing people briefed on the matter.

The decision seen as a step toward resolving trade tensions with the United States comprises of drafting a replacement for President Xi Jinping's Made in China 2025 program. The revised plan would open the world's largest market to more participation by foreign companies, the sources said.

Earlier this week, it was reported China proposed cutting tariffs on US-made cars from 40% to 15%, the level the tariffs were at before the trade war erupted between the world's largest economies.

Breaking the News / JC

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