China's auto exports average 94% annual growth

China's auto exports average 94% annual growth Source : People's Daily Online [Posted on Nove 11,2008 at 16:55] The growth of China's automobile exports has experienced rapid growth with an average annual growth rate of 94% after China joined the WTO, stated Zhou Shijie, the deputy director general of the Department of Mechanic, Electronic and Hi-Tech Industry of the Ministry of Commerce (MOFCOM) on November 10.



However, China's automobile export industry is still in its initial stages and is still far behind the world's major export countries, said Zhou.



During the first three quarters of 2008, the total number of whole vehicles (including parts for complete assembly of vehicles) exported from China was 557,736, up 34.9% year-on-year. This included 200,000 sedans, according to the statistics from China Customs.



The statistics also indicate that there was a noticeable decline in whole vehicle export growth in the second half of this year due to the impact of the financial crisis.



It is expected that the number of whole vehicles exported for the entire year will be around 700,000, up about 20% from the previous year.



Zhou added that MOFCOM will implement nine measures to help support the further expansion of exports by domestic automobile companies.