China has eased limits on foreign ownership in auto manufacturing, insurance and other industries, officially confirming promises made before its latest trade clash with Washington erupted.

The changes, announced late Thursday, had long been sought by foreign companies. They still must wait to see licensing and other restrictions to know how freely they will be allowed to operate.

The announcement followed U.S. President Donald Trump's threat, later rescinded, to impose limits on Chinese investment in the United States.

China faces mounting complaints by the United States, Germany and other trading partners that their companies are blocked from investing or acquiring assets in many of its industries while Chinese companies are on a global acquisition spree.