S. China City to Pump Huge Investment into Auto Industry

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Last updated at: (Beijing Time) Monday, April 28, 2003

S. China City to Pump Huge Investment into Auto Industry

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Guangzhou, capital of Guangdong Province, plans to invest five billion yuan (602.41 million US dollars) for the growth of its automotive industry and to build itself into the biggest producer of finished vehicles and auto parts in southern China.

Already, Guangzhou Hongda, a Sino-Japanese joint venture based in the city, has become a car maker of high growth and good economic returns among the Hongda subsidiaries in Asia outside Japan.

Currently, the company is implementing an upgrading project with a designed production capacity of 240,000 units, which is scheduled for completion by March 2004.

A similar project is also underway at Guangzhou Fengshen, a joint venture invested by the Japanese auto maker, Nissan, aimed at reaching an annual production capacity of 150,000 units by 2005.

This year, construction will begin on a Hongda car export base in Guangzhou, which is expected to begin operation in 2005 with aninitial annual production capacity of 50,000 units, according to local government officials.

The base will mainly manufacture 1-liter and 1.5-liter economy cars under the brandname of Honda, and all the products will be exported, particularly to Asian and European markets.

In the wake of the construction and expansion of the Guangzhou Honda, Guangzhou Fengshen and Honda Car Export projects, the city has attracted numerous auto parts suppliers.

The auto industrial quarter of the Guangzhou Economic and Technological Development Zone now boasts an area of 1,366 hectares.

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