While the tax cut is seen reducing local government revenue by about ¥500 billion per year, the prime minister said the central government will “ensure necessary general revenues.”
China’s Car Industry Is Wowing the World—but Crashing at Home
China’s automakers are winning attention with cutting edge electric cars and rapid innovation, yet fierce price competition and cautious buyers are testing the home market. Explore what the contrast means for manufacturers, consumers and the global auto industry.
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