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China top spot for auto investment

By Lu Nengneng   (Shanghai Daily)

09:09, January 11, 2013

GLOBAL automakers consider China as their top choice for investment because of its huge domestic demand and export opportunities, a KPMG survey showed yesterday.

China was favored by 70 percent of respondents as the top investment destination over other BRIC countries, according to the auditing firm's 14th annual global auto executive survey among 200 respondents in 31 countries and regions.

For the other BRIC countries, India had 63 percent support, Russia 54 percent, and 48 percent chose Brazil. The survey also showed that 94 percent believed that China's domestic car sales will continue to grow, driven by the rising middle class and growing urbanization.

"China remains a highly attractive market due to its long-term growth potential. It is no surprise that some automakers are placing big bets in China, ahead of other BRIC and TRIAD markets (which include Japan, Western Europe and North America)," said Andrew Thomson, Asia Pacific head of automotive and a partner at KPMG China.

According to the survey, four Chinese automakers may rank among the top 10 companies in glob

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