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CHINA SEEKS TO TRIM OVERCAPACITY IN AUTO SECTOR.
Publication: AsiaPulse News Publication Date: 31-MAY-06 |
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COPYRIGHT 2006 Asia Pulse Pty Ltd
BEIJING, May 31 Asia Pulse - China will introduce measures to trim overcapacity in the auto sector and promote local brands, an industry regulator said yesterday.
Sources from the National Development and Reform Commission said annual sales for all carmakers in China must reach four-fifths of their manufacturing capacity if they want to build plants in other cities.
And all new vehicle companies will be required to produce Chinese brand vehicles, sources said.
If existing carmakers intend to invest in products of different categories from...
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