China's Import Quota for Cars and Parts up 15 percent

Home>>Business

Last updated at: (Beijing Time) Saturday, August 17, 2002

China's Import Quota for Cars and Parts up 15 percent

DISCUSSION

CHINESE

SEND TO FRIEND

China will increase its 2003 import quota for cars and key parts by 15 percent to 9.125 billion US dollars, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said in a statement on Friday in Beijing.

The quota for motorcycles and parts would be 437 million US dollars and that for cranes and chassis 138 million US dollars.

According to commitments made by the Chinese government when entering the World Trade Organization (WTO), China will enlarge the quota by 15 percent annually from 2002, and by the year 2005 the import quota license for cars, motorcycles and their key partswill be canceled.

MOFTEC statistics showed in the first half of 2002, imports of automobiles and relevant products surged 17.9 percent to 3.146 billion US dollars and exports soared 25.9 percent to 1.608 billion US dollars year-on-year.

In 2001, Chinese people bought 2 million automobiles, a rise of16 percent which represents the fastest growth in recent years.

Questions?Comments? Click here

Commentary: Taiwan Independence No Easy Thing ( 13 Messages)

FM Spokesman Rejects Al-Qaida Contacts Allegation ( 9 Messages)

China's Exports Hit Record of US$56.2 Billion in July ( 10 Messages)

Fourth Unmanned Spaceship Set to Roar by Yearend ( 10 Messages)

China's On-going Reform Calls for Better Economic Illumination ( 2 Messages)