China’s New Rules: Tesla Must Stay Home, Used Car Factories Go Up In Price

China has effectively closed its doors to any new carmakers wanting to produce in the world’s largest automakers, a report in Beijing-based business publication Caixingglobal said. Capacity expansion by domestic automakers, and by joint ventures with overseas OEMs, also will be heavily curtailed.

China’s powerful state planner, the National Development and Reform Commission (NDRC) outlined projects that won’t get its approval under the policy, “covering most new investments for car production,” Caixing said.

More in Forbes