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BMW's current Chinese joint venture, BMW Brilliance Automotive, has two car-manufacturing plants and an engine plant, which includes a battery factory for electrified BMW-branded vehicles.

BMW's move also comes amid mounting competition in China's ride-hailing market.

BEIJING -- The Standing Committee of the 13th National People's Congress (NPC), China's top legislature, will convene its 18th session on May 18 in Beijing, according to a statement issued after a chairpersons' meeting Monday.

BEIJING -- The long queues at automatic teller machines (ATMs) have become a rare sight as people in China are already accustomed to going out with mobile phones instead of wallets, and many can't even remember when they withdrew cash the last time.

BEIJING -- The State Council, China's cabinet, on Thursday released a guideline for reducing the cost and raising the efficiency of the logistics sector.