Chinese Premier Li Keqiang met Harald Kruger, Chairman of the board of management of BMW Group, in Beijing on October 10. BMW is building a new auto plant in Shenyang, Liaoning. It will also benefit from the recent decision to lift equity caps for foreign automakers, by becoming the first company to increase ownership in its China JV to 75% from 50% (when the deal closes in 2022). 

(Comment: In April, China announced that it would gradually scrap rules requiring foreign automakers to work through Chinese-controlled joint ventures. The caps will be removed for new energy vehicles this year, commercial vehicles in 2020, and passenger vehicles in 2022.)