The two-way trade of China auto industry in 2005 has witnessed sharp changes: on one hand the market demand on imported cars continued to shrink; on the other hand auto export continued momentum of fast growth.
News from China Association of Automobile Manufacturers said that the volume of foreign exchanges earned through exporting cars has maintained vigorous growth. Driven by fast auto and parts exports, China has netted a total of 19.715 billion US dollars.
The market demand of imported cars in China further shrank and auto import continued to slump, the whole vehicle (chassis included) in particular when compared with that last year. The import volume of whole vehicle dropped by 5.06 percent annually. Among the imported cars, the sedans witnessed the sharpest drop.
Contrary to the imported car market, the export of whole vehicle continues to maintain the sharp increase. A total of 172,800 cars have been exported, setting a year-on-year increase of 120 percent and generating a 160 percent foreign exchange increase. Apart from sedan, which recorded a 230 percent increase, the sharpest among all the exports, truck and bus have also showed a momentum of fast growth.
Meanwhile, China continued to maintain a fast increase in auto exports to the US and Japan and kept active trade relations with Middle East and African countries.
By People's Daily Online