March 6, 2019 / 8:52 AM / 5 months ago

Geely chairman says China auto industry faces restructuring in next 3-5 years

NPC delegate and Geely Chairman Li Shufu leaves the Great Hall of the People after a meeting ahead of National People's Congress (NPC), China's annual session of parliament, in Beijing, China March 4, 2019. REUTERS/Aly Song

BEIJING/SHANGHAI (Reuters) - Zhejiang Geely Holding’s Chairman, Li Shufu, said on Wednesday China’s automotive industry faces restructuring and bankruptcies in the next three to five years as the industry transforms.

Li made the comments on the sidelines of China’s annual parliamentary meeting in Beijing.

Reporting by Yilei Sun in Beijing and Brenda Goh in Shanghai

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