Sweden's Autoliv, the world's largest maker of seat belts and airbags, is to cut further jobs in China due to the country's ﻿economic downturn, as it looks to expand elsewhere, so it can﻿ retain its﻿ dominant global market position. The company said on Monday that its head office would be relocated from Beijing to Shanghai next year, with a new factory opening there by 2020. The sector, with its high employment, is a priority for Beijing in a time of economic uncertainty.
Sweden's Autoliv, the world's largest maker of seat belts and airbags, is to cut further jobs in China due to the country's ﻿economic downturn, as it looks to expand elsewhere, so it can﻿ retain its﻿ dominant global market position. This move follows reports this week that China's automobile sector, the largest auto market in the world since 2009, looks set to contract in 2015 for the first time since the 1990's. The sector, with its high employment, is a priority for Beijing in a time of economic uncertainty.