Founded as a bus repair factory in central Henan province in the 1960s, the Zhengzhou Yutong Bus Company has been driven by China’s growth to become the largest bus manufacturer in the world, accounting for 10 per cent of total global sales.
However, the engine that drove the company’s ascension — China’s prosperity — is now beginning to splutter.
As China accelerated out of a planned economy, Yutong hitched a ride by helping to ferry workers back and forth between their hinterland homes and jobs in the booming coastal regions. More than 67,000 of its buses hit the road last year.
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