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China auto rules could ward off new firms

30 December 2011, 13:25

Beijing – China’s decision to “withdraw support” for foreign investment in its auto sector is unlikely to see global firms leave the country but will make it harder for new carmakers to enter, analysts say.

The guidelines – released by the National Development and Reform Commission (NDRC), the top economic planner, late on Thursday – signal an end to incentives for foreigners and discourage fresh projects in China.

The move comes as sales in the world’s biggest market slump and Beijing tries to shore up the economy by helping domestic companies and opening up other industries to foreigners such as environmental technology.

For more visit Capital News


Tags china cars

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