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70% to Become Car Owners Within Five Years
According to a newly disclosed investigation by the China Consumer Association (CCA), 2/3 consumers in large cities plan to buy private cars within 5 years.
The investigation was conducted by the CCA in a bid to be well informed of presence and future trend of auto market in China and the acquaintance degree of consumer to the private cars, thus to guide the consumption. The investigation on private car consumption was proceeded in 20 large cities including Bejing, Shanghai, Tianjin, Chongqing, Hefei, Fuzhou, Shenzhen, Qingdao, Harbin, Shenyang, Zhengzhou, Jinan, Xi'an, Wuhan, Nanjing, Hangzhou, Guangzhou, Kunming and Changchun. The investigated saw a 10,000 samples, 2000 of which were car owners while the rest were carless. And an indoor mode with questionnaire was adopted.
The result states that 30.6% of the carless consumers hold driving licenses which indicates great potentials in auto market.
Among the investigated, 3.2% will buy car this year, 11.1% in 2001. A larger number of 15.6% want to be a car owners in 2002 while the largest number 70% will implement the plan between 2003 to 2005.
As estimated by relevant person from CCA, between 2005 to 2010, China would witness a car purchasing peak because of the improved income of large cities residents and the expected price decline of cars after Chinese WTO entry.
In addition Qiu analyzed the new characteristic of the future macro-economic environment in China. The shortage and absence of demand and supply relationship calls a halt while focus on both quality and quantity instead of quantity only is called for by economy. How to establish a market economic system of own in opening up is the most important issue and that to achieve the stable development through structural adjustment is the mainline of future Chinese economy.
According to Qiu, there are 3 aspects to be noted when asked what the ideal status after the economic structural adjustment is. First, urban and rural structure is to be amended with 100 million population in rural area completing urbanization. Second, traditional industry and modern industry are to be further united. Last, the stock asset structure is effectively conformed and the general economic competitiveness is improved obviously.
Source: Panaroma
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