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Last updated at: (Beijing Time) Tuesday, January 20, 2004

Value of China's auto imports up 84 percent in 2003

China's imports of automotive products surged 84 percent year-on-year to 14.45 billion US dollars in 2003, setting a historical high.


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China's imports of automotive products surged 84 percent year-on-year to 14.45 billion US dollars in 2003, setting a historical high.

The latest customs statistics also show China's exports of automotive products rose 34 percent to 4.71 billion dollars in 2003.

Among the imports of automotive products, complete vehicles reached 125,129 units and the value of these imports jumped 63 percent to 5.25 billion dollars. The value of imports of key components soared 131.9 percent to 3 billion dollars, while the value of imports of other parts and accessories rose 85.7 percent to 6.2 billion dollars.

The surge in imports of parts and components is linked with fast growing automobile production in China. A large portion of the production growth is purely based on assembling imported partsand components.

Of China's automobile exports, complete vehicles reached 125,1000 units and the value of these exports reached 400 million dollars. Exports of key components reached 630 million dollars, other parts 3.68 billion dollars.

Of the complete vehicle exports, 2,849 were sedans, 648 cross-country vehicles, 4,224 station wagons, 2,550 large and medium-size buses, 25,348 heavy-duty trucks and 88,642 special-purpose vehicles.

Wei Jianguo, vice minister of commerce and director of the Office for Machinery and Electrical Goods Import and Export, said China's automotive industry remained far behind big automobile producing countries in the world and it was unrealistic to achievelarge-scale complete vehicle export in a short time.

However, China's automotive parts production has reached considerable level and scale. It is possible to realize rapid growth in exports of automotive parts, said Wei.

Source: Xinhua


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