| China auto exports top US$8b in 2004 |
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| Saturday,January 29,2005 Posted: 16:47 BJT(0847 GMT) |
In 2004 China's export of automobile products reached US$8.156 billion, a sharp growth of 73 percent, much higher than the 13 percent import growth, according to latest statistics from the Mechanical and Electrical Department of the Ministry of Commerce.
The trade deficit of auto products narrowed down visibly from US$9.737 billion of 2003 to US$8.177 billion last year.
Customs statistics showed that in 2004 China's auto product import reached US$16.333 billion, up 13.1 percent over the previous year. While the whole-year auto product export hit a record of US$8.156 billion, an increase of US$3.446 billion over the US$4.71 billion in 2003.
Due to the wide gap between China's auto industry and the world's, presently it's difficult for the nation to export whole cars, especially sedans, in large quantities, an expert from the Ministry pointed out. But it's completely possible for China to achieve high-speed growth in parts export in a comparatively short period, since the nation's auto component parts industry has developed to a certain level with quite a large scale. (source: China Daily)
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