China Urges Automakers to Refrain from Investing in Russia, India, Turkey
At a special meeting, China's Ministry of Commerce recommended that local automakers not invest in Russia and also abandon expansion of capacities in India and Turkey, Reuters reports.
China's Commerce Ministry has advised Chinese automakers to refrain from investing in Russia and to abandon their plans to develop production facilities in India and Turkey, Reuters reports. Chinese authorities have "strongly recommended" that companies scale back their business operations and reduce risks associated with these countries.
The move could be part of a broader strategy by China to reassess its economic priorities and focus resources on other key markets. Amid sanctions and uncertainties related to Russia, as well as a difficult political environment in India and Turkey, Chinese authorities are advising companies to reconsider their plans to expand and invest in these countries.
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