Under the newest guidelines due out in March, Chinese auto makers may have to agree to take over a rival firm to receive regulatory approval for expansion projects, Reuters reported, citing an unnamed source. Beijing is looking to create major auto corporations that can compete with global giants from the 100-some players currently manufacturing cars in China. The combined sales of China’s top ten automakers came to 11.9 million units in 2009. The remaining companies sold less than 10,000 cars each. Beijing would like to see the major players reduced to ten or fewer from 14 now, and two or three major companies producing up to two million cars each annually.
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