China's Sales of Bus, Luxury Coach Growing Fast

BEIJING, August 1 (Xinhua) -- A rapid extension of expressways and growth in mass transit in China are pushing sales of buses and luxury coaches, according to today's Business Weekly of China Daily.

During the first half this year, 15,761 buses and luxury coaches were sold, up 60.37 percent from the same period last year, according to figures from China Automotive Industry Association.

This is a new record following five consecutive years of growth and it has been attributed to massive investment in urban public works, the construction of highways and the advent of peak time for the replacement of old buses, said the officials with the association.

About 50,000 old buses will be replaced by new ones because of activities marking the 50th anniversary of the founding of the People's Republic of China.

In three years of time, China will spend at least 250 billion yuan (30.1 billion US dollars) building roads and bridges within big cities. The budget for new bus purchases is expected to be at least 30 billion yuan (3.61 billion US dollars).

The growth in tourism and international activities held by China is expected to bring in more orders for luxury coaches.