Ford has finally received approval from China's top economic planner to end its venture in China with Mazda. As a result, Ford will be able to control its expansion in the country. Still, according to Autonews, Ford still needs to have its plan approved by two ministries. After it will receive the approval, Ford will have more freedom in making decisions for future development in China. National Development and Reform Commission approved Ford’s application to have a separate venture with Changan Automobile Co. This year, Ford will add production output in China and this includes plan to build a $760 million (4.8 billion yuan) assembly plant in Hangzhou. "We're very pleased with the restructuring and the way it's going," Mulally said today. "We have approval from the NDRC and we're proceeding through the regulatory process, so we're very appreciative and encouraged."
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