China to bar new auto projects without merger deals -paper

Newswire

SHANGHAI, Jan 29 (Reuters) - Chinese automakers might not get regulatory approval for capacity expansion unless they first agree to take over a domestic rival, the Shanghai Securities News reported on Friday. Beijing has been encouraging acquisitions among the auto industry's more than 100 players, aiming to create a few national champions able to compete with global giants at home and overseas. Under the latest version of policy guidelines expected to come out before the end of March, ...

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