FILE PHOTO: The logo of BMW before the company's annual news conference in Munich, southern Germany, March 21, 2017. REUTERS/Michael Dalder/File Photo
BEIJING: BMW AG stands to become the first foreign car manufacturer to own a majority in a Chinese joint venture, showing Beijing is following through on a pledge to increasingly open up the economy to global corporations.
BMW plans to unveil the new ownership structure in its joint venture with Brilliance China Automotive Holdings Ltd soon, according to a person familiar with the plan, who asked not to be identified because the accord remains confidential. BMW now holds 50% of the venture.
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