China auto capacity may hit 15 mln units by 2008 - report |
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Wed, 18 Apr 2007 04:27
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BEIJING (XFN-ASIA) - China's auto capacity may hit 15 mln units by 2008, the official China Securities Journal reported, citing an official from the National Development and Reform Commission (NDRC).The newspaper quoted Zhang Guobao, the deputy head of the state planning gency, as saying that the country's rapid growth in exports has cut the long-term trade deficit in automobiles in recent years.In 2006, China became the world's third largest auto producing nation and the world's second largest market for new vehicle sales.Actual auto production in 2006 was 7.28 mln uits, up 27.32 pct.Production may hit 8.5 mln units this year, up more than 15 pct, and 10.2 mln in 2008, the report said, citing the China Association of Automobile Manufacturers.ivy.cheng@xinhuafinance.com
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