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 | Thursday, April 13, 2000, updated at 13:47(GMT+8) | ||||||||||||
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China to Produce More Special AutosChina will speed up production of special-purpose automobiles to meet growing demand during the country's 10th Five-year Plan period (2001-2005), the State Administration of Machinery Industry has said.Domestic auto-makers plan to produce 340,000 special-purpose automobiles annually during the period, aiming to export 150- million-U.S. dollar worth of these vehicles at the same time. The sector will focus on the development of hi-tech products, including special automobiles for high-grade highway transportation and maintenance, bridge checking, oilfields and airports, to satisfy domestic demand and engage in world competition. Investments in the sector's technical upgrading will mainly come from state loans. As China is seeking entry to the World Trade Organization (WTO), domestic manufacturers will have more opportunities to gain foreign investment and advanced technologies. The government will also accelerate the sector's restructuring in the form of alliance, merger, reorganization or cooperation with private manufacturers. Most of the domestic special-purpose auto-makers are joint ventures.
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