China's Auto City Aims HighChangchun, capital of NE China's Jilin Province, plans to increase its automobile output to one million units annually in the next five year.The First Automobile Group in the city plans to build 80,000 affordable family cars and 100,000 remodeled vehicles a year by 2005. According to a new automobile development plan, by the year 2005, the city's annual auto turnover is targeted to reach 100 billion yuan (US$12 billion), and its annual taxes and profits, to 16 billion yuan, double the figure for 2000. Changchun is best known for its automobile industry, which makes up 50 percent of its GDP. This plan will be a great help for Changchun to seize the opportunity to compete with international auto giants after China joins the World Trade Organization. Over the next five years, the city's auto industry will spend 21.2 billion yuan (US$ 2.55 billion) on technological upgrading. The First Automobile Group will invest 18.7 billion yuan (US$ 2.25 billion), and other automobile companies, 2.5 billion yuan (US$ 30 million) for the purpose. |
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