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Chinese deferring car purchases for stocks

General Motors reported a 4 per cent drop in May sales in China, its largest market, despite cutting prices on 40 models.


THE stockbroker is beating the car salesman in the battle for Chinese wallets.

With China's stock market more than doubling in the past year, consumers such as Tom Zhang are deferring big-ticket purchases to chase the rally. The Beijing resident was deciding between a Buick

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