Zheng Tong aims for 44 new stores

Hong Kong-listed luxury car dealer Zheng Tong plans to open 44 new stores in the next two years despite an expected slowdown in the mainland market, where authorities are seeking to restrain car ownership to ease traffic jams. Executive director Wang Kunpeng said the policies should affect the middle and lower-end markets more than the luxury sector. The company now has 24 retail shops.