Chinese automakers surge after the government excludes foreign brands from a preliminary list of...

|By:, SA News Editor

Chinese automakers surge after the government excludes foreign brands from a preliminary list of vehicles approved for purchase by state agencies. The move will help local brands gain in the 80B yuan ($12.7B) market at the expense of foreign automakers like GM (GM) and Toyota (TM). In the past, overseas brands accounted for 80% of the official pool.