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China to focus less on car manufacturing industries

China to focus less on car manufacturing industries

SYF77

Entry posted by SYF77 ·

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China has taken steps to reduce foreign investment in car manufacturing. The change ends the seven years of foreign-investor benefits including reduced tariffs on imported plant equipment The country will shift its focus on nurturing strategic new industries to make its manufacturing more sophisticated and be more competitive globally, according to a statement by the National Development and Reform Commission.

 

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However, foreign investment in more fuel-efficient vehicles will still be encouraged.


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