09-01-2007 China's
auto exports hit a record high of 340,000 units in 2006, more than double 2005's
figure, according to the Ministry of Commerce (MOC). Sedan
exports topped 90,000 units, a 200 percent increase on the previous year, said
an MOC official. Customs
statistics show that China's vehicle exports surged 120 percent from 78,000 units
in 2004 to 173,000 units in 2005, with export volume hitting 1.58 billion U.S.
dollars. "China
is aiming to lift the value of its vehicle and auto parts exports to 120 billion
U.S. dollars, or 10 percent of the world's total vehicle trading volume in the
next 10 years," said Vice-Minister of Commerce Wei Jianguo. Over
the past few years, China's exports of vehicles and parts have grown rapidly.
In 2005, exports reached 10.9 billion dollars, an increase of 34 percent on the
previous year. According
to analysts, China was expected to produce and sell more than seven million units
in 2006 and overtake Germany to become the world's third largest automobile producer.
Supported
by government policies, China's automobile industry is expected to forge ahead
in 2007. However,
Wei noted that China's exports of vehicles and auto parts made up only 0.7 percent
of the world's total vehicle trading volume. To
prevent domestic car makers getting into cutthroat competition and also to weed
out companies that are too small to be serious exporters, China has decided to
establish export quotas for 2007. According
to the 2007 Catalogue for Export License Management, no company will be able to
export automobiles, full sets of car spare parts or car chassis without prior
authorization. China-made
automobiles are mainly sold to emerging markets such as the Middle East, Latin
America and Russia.
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