Chinese language - China expected to produce 8.5 million vehicles in 2007

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BIZCHINA / Center

China expected to produce 8.5 million vehicles in 2007

(Xinhua)
Updated: 2007-09-23 09:47

China's auto production saw an annual growth rate of 45.8 percent since
2002 and the country is expected to produce 8.5 million units of
automobiles in 2007, a senior official with the top economic planner said
at a forum in Beijing Saturday.

By the end of 2006, output value of the country's auto industry accounted
for 3.7 percent of China's gross domestic production, said Zhang Guobao,
vice minister of National Development and Reform Commission.

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Meanwhile, employment in auto and auto-related industries accounted for
one-sixth of the nation's total workforce, he said.

China produced 5.75 million motor vehicles in the first eight months of
this year, up 23.6 percent over the same period last year, according to
the China Association of Automobile Manufacturers.

Official statistics show that China exported 294,000 autos in the first
seven months this year, up 70.3 percent from the corresponding period
last year. Auto exports may exceed 500,000 units for the whole year.

During the period, China also exported auto parts worth 8.85 billion US
dollars, up 32.4 percent from the same period last year.

(For more biz stories, please visit Industry Updates)

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