--File--Visitors look at a Mercedez-Benz car during an auto show in Nanchang, southeast Chinas Jiangxi province, 29 October 2011. China has said it
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Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W99FD6File size:
28.5 MB (546.7 KB Compressed download)Releases:
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2630 x 3788 px | 22.3 x 32.1 cm | 8.8 x 12.6 inches | 300dpiDate taken:
29 October 2011Photographer:
ImaginechinaMore information:
--File--Visitors look at a Mercedez-Benz car during an auto show in Nanchang, southeast Chinas Jiangxi province, 29 October 2011. China has said it will withdraw support for foreign investment in the countrys car industry to encourage domestic carmakers, according to state media. The Xinhua news agency cited a joint announcement from the Ministry of Commerce and the National Reform and Development Commission. The report did not provide details of what support was being withdrawn. Some of the worlds largest carmakers, including Americas General Motors and Germanys Volkswagen, operate in China. The country is the worlds largest car market. According to Xinhua, Beijing will withdraw support for foreign capital in auto manufacturing... because of the need of the healthy development of domestic auto making. A number of the worlds leading carmakers, particularly luxury brands, are focusing on boosting sales in China to compensate for weak demand caused by slow economic growth and the eurozone debt crisis.