| China to be world's third largest automaker by 2010 |
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| 2004-12-20 15:34 |
China is expected to become one of the world's top three largest automakers by 2010.
China will make the automobile industry a pillar of the national economy in the coming six years, according to a blueprint for national automobile development in China's 11th Five-Year Plan period (2006-2010).
By 2010, the industrial added-value of the automobile sector will make up 5 percent of China's gross domestic product, while the sector's export value is scheduled to surpass 50 billion US dollars, the development blueprint predicts.
The automobile market in China is in a period of growth characterized by mass consumption. Auto-related industries such asraw materials and road construction are geared to the needs of automobile development, said Shen Ningwu, deputy secretary-generalof the China Association of Automobile Industry.
As part of the efforts to join economic globalization, all major automakers in China have accelerated the pace of regrouping or mergers, Shen said.
The Shanghai Automotive Industry Corporation joined with its counterparts in 11 countries and regions including Germany, Japan,Sweden and Italy to build 60 joint ventures. The Chang'an Automobile Group has formed an auto production system by building three auto production bases in Chongqing and Nanjing cities and Hebei Province.
China encourages the establishment of some internationally competitive automobile groups and enterprises engaging in mass production of spare parts. Enditem
(Xinhuanet) |
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