China Needs New Measures to Avoid Carmaker Overcapacity, Xinhua Reports

China must take measures to avoid carmakers’ overcapacity, the official Xinhua News Agency reported today, citing Chen Bin, director of industry planning at the National Development and Reform Commission.

The country’s car-making capacity may “far exceed” demand by the end of 2015, according to preliminary expansion plans drafted by local governments, the report said.

To contact the reporter on this story: Ying Wang in Beijing at ywang30@bloomberg.net

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