Germany’s Economy Ministry on Tuesday welcomed a decision by China to open some of its key industrial markets and reduce existing market barriers to foreign investment. “This is a signal in the right direction,” the ministry said in a statement. It added that “now it will depend on whether actions follow words, and if so, how the regulations will be shaped,” Reuters reports. Earlier on Tuesday, Beijing said it would scrap limits on foreign ownership of automotive ventures, and in shipbuilding and aircraft industries in 2018.