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Over Half of China's Cars Owned by Individuals: Survey
More than half of the cars sold in China since 1998 have been bought by individuals for private use, a survey conducted recently by the State Statistic Bureau shows.
The survey of 150,000 urban families across China found that there are 114 cars per 10,000 residents in Chinese cities.
The number of private cars in China grew to 5.34 million in 1999 from 816,000 in 1990, at an average rate annual rate of 23.2 percent.
The market share of cars bought by government departments and institutions shrank between 1990 and 1999, while the market share of cars purchased by companies remained stable or dropped slightly.
The market share of private cars has been growing quickly during the past several years.
China has been encouraging individuals to buy cars in a bid to develop its auto industry and promote economic development.
A recent survey shows that 26 million or 20 percent of China's urban households are intending to buy cars, equal to the annual global automobile output.
China sold 650,000 cars in 2000.
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