China says to curb excess growth of auto industry

Newswire

By Fang Yan SHANGHAI, Dec 26 (Reuters) - China announced measures on Tuesday to restrain the rapid expansion of its automobile industry, saying the sector could face a serious overcapacity problem if trends continued. "Signs of overcapacity have already appeared, and could worsen," the National Development and Reform Commission, the country's top economic planner, said in a statement. It added that improving the structure of the industry was an urgent task. China's auto market is the ...

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