On December 20 2006, the National Development and Reform Commission (NDRC) of China issued its Notice on Opinions of Adjustment of the Auto Industry Structure (the 2006 Notice) in response to continued overcapacity in the Chinese auto market. The 2006 Notice aims to help slow down the economy to a sustainable level (much like recent policies in respect of land), consolidate an extremely fragmented industry, and encourage the development of domestic Chinese auto champions.
February 01 2007