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The surge in small-car sales helped China pass a milestone. For the first time ever, more cars were sold in China (735,000 vehicles) in a month than were sold in the U.S. (657,000). In January at least, China was the world's largest car market. "The tax...
On Jan. 20, the Beijing government slashed the sales tax on cars with engines of up to 1.6 liters from 10% to 5%. The measure, designed to get Chinese to buy smaller, more fuel-efficient vehicles, has had an immediate impact. January sales of small cars jumped 19% compared with...
Ultimately Chinese carmakers, not foreign manufacturers like Hyundai, are expected to benefit most from Beijing's moves. "Domestic manufacturers mostly focus on the production of automobiles with smaller engine power, and they benefit the most from the tax reduction policy," says Yao Jie, deputy secretary general of China Association of...
Economist Jim Walker of Asianomics, an independent research firm in Hong Kong, argues that what appear to be signs of recovery in China are in fact indications that the country might be headed for long-term problems. Walker believes that Chinese policymakers aren't allowing the economy's excessive and...
See 10 things to do in Beijing.