China Planning To Lower Auto Tariffs As Soon As Next Month

Two weeks after Chinese President Xi Jinping reiterated China's planto begin liberalizing its automobile market by lowering tariffs on imported cars - dealing what could be a death blow to the government's strategy of forcing foreign manufacturers to enter into profit-sharing (and intellectual property sharing) agreements with local manufacturers, just to gain entry to the mainland market - senior officials at the State Council, China's cabinet, are saying the lower tariffs could be announced as soon as next month,according to Bloomberg.