"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.

(Writing by Andrea Shalal; Editing by Paul Carrel)

Stocks treated in this article : Bayerische Motoren Werke, Daimler, Volkswagen