China to encourage foreign auto joint ventures to export |
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Tue, 30 Oct 2007 08:18
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SHANGHAI (XFN-ASIA) - China will encourage foreign joint venture automakers to export their output, an official with the economic planning agency said.'We cannot talk about the future of the auto industry without mentioning joint ventures and foreign companies,' Chen Jianguo, deputy inspector of the Industrial Department of the National Development and Reform Commission (NDRC) said at a forum here.Chen said Chinese companies could move into 'global alliances' with partners to help export locally-made vehicles.'The government will principally stick to a policy of independent development for the auto industry,' Chen said, noting that auto firms need to be strong enough not to rely on policy.China expects to export more than 500,000 automobiles this year with exports of auto parts expected to hit 8.85 bln usd, up 32.4 pct year-on-year, according to the Ministry of Commerce.In the first seven months, China exported 294,000 automobiles, up 70.3 pct compared to a year earlier, the ministry said in a statement last month.(1 usd = 7.50 yuan)randall.jensen@afxasia.com-xfnrj/xfntmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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