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China drafting auto industry consolidation plan
Published on: 2009-02-25
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China plans to build up a "Big 10" group of globally competitive automakers, AP reported. The plan, part of a wider stimulus package for the auto industry, is also aimed at boosting sales and production this year to 10 million units and keeping growth at about 10% in the next few years. The plan outlined in the report dovetails with the country's long-term strategy of consolidating numerous small regional manufacturers into bigger national auto groups, while at the same time encouraging use of more fuel efficient, lower polluting vehicles.
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