China To End Breaks For Foreign Automakers
STEVE INSKEEP, HOST:
NPR's business news starts with China shifting its auto market.
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INSKEEP: This story involves one of the great growing consumer markets in the world, one where General Motors and other companies have come to play. After years of offering tax breaks and other benefits to foreign automakers, China is rolling up some of its red carpet. Bloomberg News reports Beijing will stop encouraging investment from outside companies with those tax breaks and other incentives. A Chinese official said the move was to allow for healthy development of China's own car manufacturers, and it also comes amid a sharp slowdown in car sales.
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