Germany welcomes China move to open markets in key sectors

BERLIN: The German Economy Ministry on Tuesday welcomed a decision by China to open some of its key industrial markets and reduce existing market barriers to foreign investment.

"This is a signal in the right direction," the ministry said in a statement, adding: "Now it will depend on whether actions follow words, and if so, how the regulations will be shaped."

China earlier on Tuesday announced it would scrap limits on foreign ownership of automotive ventures, and in shipbuilding and aircraft industries in 2018.