TIANJIN, China -- China's economic regulator is planning to take measures to fix its flailing automotive industry, an official said Saturday, announcing plans to increase oversight and lower capacity as it tries to pull the market out of one of the worst slumps in its history.
Automobiles
China targets excess capacity to help boost weak auto market
Government grapples with underutilized plants in crowded field
China's auto industry is estimated to have annual production capacity of 60 million units, while new car sales amounted to around 28 million last year. © Reuters
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