China to Withdraw Support for Foreign Investments in the Auto Industry in 2012

The new year will bring some significant changes for carmakers that had plans to invest in China as the world's most populous country will stop encouraging foreign investment in the auto industry putting an end to seven years of benefits that included reduced tariffs on imported equipment.

China's National Reform and Development Commission (NRDC) and the Ministry of Commerce made a joint announcement on the move that is due to come into effect on January 30, 2012.

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