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Economy

Chinese cities ease car ownership rules to drive slowing market

Volkswagen and Geely welcome move by Guangzhou and Shenzhen

Vehicle sales in China, the world's largest auto market, fell 14.6% on a yearly basis in April.   © Reuters

HONG KONG -- Two of China's biggest metropolises have moved to relax car ownership restrictions as the country looks to revive growth in an auto market that suffered its first full-year decline in almost three decades.

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