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Last updated at: (Beijing Time) Saturday, January 17, 2004

China, the world's fourth auto manufacturer

As learned from the Forum of China Auto Industry Growth Potential and External Development Environment, in 2003, China turned out 4.44m vehicles and sold out 4.37m, an increase of 36.6 percent and 34.5 percent respectively over the previous year. Among them, there were 2.01m cars with 1.97m. of them sold, up 84.4 percent and 80.7 percent respectively. China has outrun France to become the world's fourth large auto manufacturer.


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As learned from the Forum of China Auto Industry Growth Potential and External Development Environment, in 2003, China turned out 4.44m vehicles and sold out 4.37m, an increase of 36.6 percent and 34.5 percent respectively over the previous year. Among them, there were 2.01m cars with 1.97m. of them sold, up 84.4 percent and 80.7 percent respectively. China has outrun France to become the world's fourth large auto manufacturer.

Although the rise of commercial market of vehicles fell back in 2003 because of the SARS, the robust growth of the car market pushed China's auto industry onto a fast track. The auto industry continued to be the powerhouse for boosting the national economy with sustained, rapid and healthy development.

The forum, sponsored by the Development Research Center of the State Council and hosted by Volkswagen China Investment Co., Ltd., unveiled the "Forecast on Demand in China's Auto Market" prepared by the Economic Research Section of the Development Research Center under the State Council. The report forecasts a decline for the

expansion of the domestic auto market and a sustained, stable and fast growth for 20 years or even longer. However, the mid-and-long term upturn is expected to keep on. According to a conservative estimation, by 2010, 14.66m. of sedans will be held by families in China with about 14m. by urban and town households. By 2020, people in China will have 72m. cars. Sedans will be the most important driving force to boost the growth of cars and the whole auto industry at large.

An article from People's Daily on Jan.16 by Wang Zheng and translated by PD Online Lijia


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