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BEIJING - China decided to scrap quota restrictions on two major inbound investment schemes in a bid to further facilitate foreign institutional investors' participation in the country's financial market, authorities said Thursday.

Automotive Foresight estimated sales of China-made Model 3 sedans could reach 100,000 units this year. Analysts at Industrial Securities expected sales to touch 150,000 during the same period.

Authorities in the city of Haining found in February that some people were selling micro-plastic surgery drugs through China's hugely popular instant messaging platform WeChat, the provincial public security bureau said Friday.

Auto market observers estimated that German carmakers BMW, Daimler and the country's largest carmaker Volkswagen (VW) will be the largest beneficiaries of China's move. The lowered tariff could bring BMW 1.2 to 1.75 billion euros (.05 billion) in profits before interest and tax, and Daimler 1.1 to 1.65 billion euros (.29 to 1.93 billion).

Authorities have attributed the increase in visitors to the six-day transit visa for nationals from 53 countries and regions, which started in January 2016, as well as the city government's decision in October 2016 to allow tourists on foreign cruise tours to stay for 15 days without a visa.