China Puts Brakes on New Car Production
(Beijing) — Beijing regulators will strictly limit construction of new car manufacturing plants in a bid to rein in a runaway buildup that has seen capacity greatly outstrip demand, according to a new announcement from the state planner.
The National Development and Reform Commission (NDRC) outlined three kinds of new projects that won’t get its approval under the policy, covering most new investments for car production, it said in a posting on its website dated on Monday.
- 1Chinese Thesis Ghostwriting Scandal Reveals Huge Gray Market
- 2 State-Owned Firms to Build $6.5 Billion Petrochemical Refinery in Alberta
- 3With Latest IPhones, Apple Again Bows to the Chinese Market
- 4China Could Ban Exports of Products Crucial to U.S. Manufacturers, Former Finance Minister Says
- 5Update: China Demands Answers for Swedish Police’s ‘Brutal’ Treatment of Tourists
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas