BUSINESS
12/19/2008 05:12 am ET Updated May 25, 2011

China's Auto Industry Now Seeking A Bailout

Do Chinese automakers need a bailout?

China's car industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives said in interviews here on Tuesday.

This autumn, after six years of 20 percent or more annual growth, vehicle sales were flat or slightly negative, a shock to an industry that has borrowed heavily to build ever more factories for a market that had once seemed insatiable.

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