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China allows foreign investment in auto trade
www.chinanews.cn 2005-08-13 16:51:34
(Source: CRIENGLISH.com)
Aug. 13 - The official People's Daily reported Saturday that the Ministry
of Commerce recently published the national policy on auto trade. Foreign
investors shall be treated on equal terms with domestic firms.
The automobile policy went into effect Wednesday, August 10. New car
sales, second-hand auto sales, spare parts, imports and exports are
included in the policy.
It also outlines the county's automobile trade development in terms of
direction, objectives, operation codes and administration framework.
The paper says the new policy will encourage competition in domestic
Chinese auto markets and deepen the opening up process, and eventually
realize the free flow of auto products in the country.
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