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.
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