China's new auto policy expected in H1 -paper

Newswire

SHANGHAI, March 31 (Reuters) - A controversial policy directing the future of China's red-hot auto industry will be released within three months, dropping a clause favouring local players over foreign ones, state media said on Wednesday. The government began circulating last year a draft of the policy, which stipulated at the time that Chinese auto makers must control half the market by 2010, threatening the likes of Volkswagen AG and General Motors Corp . That had been stricken from the ...

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