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18-06-2007
There
is huge potential for cooperation between China
and Russia in the automotive trade, an official
with the Ministry of Commerce said at the first
Sino-Russian forum on the auto market held in
Harbin on Sunday.
Zhi
Luxun, who is in charge of machinery and scientific
and technological industries with the ministry,
based his judgement on the fact that China has
become a major motor vehicle producer and consumer
in the world, while Russia boasts a sharp competitive
edge in the auto industry and a comfortable
investment climate for the sector.
In
2006 China explored new markets for motor vehicles
and auto parts, in Europe. During the process,
Russia's potential for automotive trade began
to emerge, Zhi said.
China
exported 460 million U.S. dollars worth of automotive
products to Russia last year, a growth of 161.8
percent over the previous year, according to
the Ministry of Commerce.
Of
the total, whole-vehicle exports stood at 38,000
units, up 331.9 percent, or 350 million U.S.
dollars worth, up 312.5 percent. Exports of
auto parts increased by 20.7 percent to 110
million U.S. dollars worth.
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