Wednesday 19 December 2018 ,
Wednesday 19 December 2018 ,
Latest News
  • AL makes 21 special pledges in election manifesto
  • AL to introduce 5G services, reduce cost of internet, cell-phone use
  • HC confirms Khaleda's ineligibility to contest polls
  • BNP manifesto promises scrapping black laws, higher GDP growth
  • Quader hopes AL to win next polls again
  • US hopes polls to be credible
12 October, 2018 00:00 00 AM
Print

BMW plans to take control of China joint venture

AFP

German luxury carmaker BMW announced yesterday a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector, reports AFP from Beijing.

BMW will acquire a further 25 per cent stake in the venture with Brilliance China Automotive for 3.6 billion euros ($4.2 billion), the company said, bringing its stake to 75 per cent by 2022 when the deal closes.

Foreign automakers have long been restricted to holding no more than a 50 per cent stake in their China operations, but Beijing decided to relax the ownership caps this year.

The reforms are part of Beijing's plan to further open its economy to foreign business, after years of facing pressure from the United States and Europe.

"BMW is the first beneficiary of the Chinese government's relaxation of restrictions on foreign investment in the auto industry," Chinese premier Li Keqiang told BMW Chairman Harald Kruger at a meeting Wednesday, according to a government transcript.

Comments

Poll
Today's Question »
Do you agree with Election Commissioner Rafiqul Islam that polls officials should be cautious while announcing results to avoid embarrassment?
 Yes
 No
 No Comment
Yes 66.7%
No 33.3%
No Comment 0.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01
02030405060708
09101112131415
16171819202122
23242526272829
3031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting