U-turn: China is letting Hyundai buy out a joint carmaking venture

//U-turn: China is letting Hyundai buy out a joint carmaking venture

U-turn: China is letting Hyundai buy out a joint carmaking venture

Beijing is letting Hyundai Group, the South Korean carmaker, gain full ownership of one of its mainland operations – a rare move by China to cede its stake in a joint venture with a foreign company, the South China Morning Post has learned.The action comes as Beijing, now in a bruising trade dispute with Washington, has pledged to provide fairer competition for foreign corporations in the Chinese market.China renews pledge to open markets, level playing field for foreign firmsHyundai Group has…

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By | 2019-10-21T16:51:37+00:00 October 21st, 2019|Business|Comments Off on U-turn: China is letting Hyundai buy out a joint carmaking venture