The new year will bring some substantial alterations for carmakers that had plans to invest in China as the world's most populous nation will stop encouraging foreign investment in the auto market putting an end to seven years of benefits that included lowered tariffs on imported equipment.
China's National Reform and Development Commission (NRDC) and the Ministry of Commerce created a joint announcement on the move that is due to come into impact on January 30, 2012.
According to Xinhua,
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