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China's Car Industry to Enter Rapid Development Period
China's car industry will enter a rapid development period during the 10th Five-Year Plan period, according to Zhang Shirui, general manager of the Shenlong Automobile Company.
The company, a major car manufacturer in China, is based in the Economic and Technological Development Zone in Wuhan, capital of central China's Hubei Province.
Zhang, a deputy to the National People's Congress, China's top legislature, said that the Outline of China's 10th Five-Year Plan calls for measures to encourage cars to enter ordinary families.
"This means affordable cars will be a bright spot in consumption over the next five years," he said.
The outline also charts out the orientation of the automobile industrial structural adjustment. "With both the consumption market and the production area defined explicitly, I think that the automobile industry, especially the car industry, is now on the eve of vigorous development," he said.
"This is a remarkable breakthrough," he said, adding: "This is an outcome of China¡¯s economic development into a certain phase, as well as an outcome of the improvement of Chinese people's living standard to a certain level."
He said that in 2000, China's gross domestic product ¨C the value of goods and services produced ¨C topped one trillion US dollars and the per-capita disposable income of urban residents hit 826 dollars.
"This fact serves as the prelude for cars to enter ordinary Chinese families," he said.
"I am sure that in 2005, the car will become the No.2 most valuable property for Chinese consumers, after the apartment," he said.
Zhang, an influential executive in the country's automobile industry, said, "With China's national strength steadily growing plus structural adjustment, I am sure that China¡¯s car industry will be thriving in the future."
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