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Vehicle Exports in China Rush Forward 100%
May 03, 2007

Auto exports in China more than doubled in the year 2006 to reach 340,000 units, according to Xinhua.

Auto exports in China reached 340,000 units during 2006, which is more than double compared to 2005. This information was revealed by the Xinhua news agency on 1st January 2007.

Of total vehicles that were exported in the year 2006, sedan exports was the topper by producing 90,000 units, a 200% rise on the figure of 2005. Vehicle exports in China registered a growth of 120% and reached 173,000 units in the year 2005, whereas it was 78,000 units in the previous year 2004.

"China is planning to raise its vehicle's value and exports of auto parts to US$120 billion, or 10% of the total volume of vehicle trading worldwide, in the next decade", said Wei Jianguo - the Vice Minister, Commerce.

In spite of the plan for boosting auto exports, the government of China has decided that it will set up an export quotas system for the year 2007. This is believed to prevent the domestic carmakers from facing cutthroat competition as well as weed out small firms that aren't able to compete on world level.

Chinese vehicles are largely sold in emerging markets of Middle East, Russia, and Latin America. Over the last few years, Chinese vehicles & auto parts exports have shown tremendous growth, and reached a sum of US$ 10.9 billion last year (2005), representing an increase of 34% from the year 2004.

China is the 2nd largest auto market in the world, attracting international brands like General Motors & Hyundai. Chinese automotive industry produced & sold about seven million units in the year 2006, overtaking Germany to become the 3rd largest automotive producer in the world, as per the analyst at
RNCOS.

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