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China auto exports top US$8b in 2004
By Xinhua
Updated: 2005-01-28 15:46
In 2004 China's export of automobile products reached US$8.156 billion, a
sharp growth of 73 percent, much higher than the 13 percent import growth,
according to latest statistics from the Mechanical and Electrical Department of
the Ministry of Commerce.
The trade deficit of auto products narrowed down visibly from US$9.737
billion of 2003 to US$8.177 billion last year.
Customs statistics showed that in 2004 China's auto product import reached
US$16.333 billion, up 13.1 percent over the previous year. While the whole-year
auto product export hit a record of US$8.156 billion, an increase of US$3.446
billion over the US$4.71 billion in 2003.
Due to the wide gap between China's auto industry and the world's, presently
it's difficult for the nation to export whole cars, especially sedans, in large
quantities, an expert from the Ministry pointed out. But it's completely
possible for China to achieve high-speed growth in parts export in a
comparatively short period, since the nation's auto component parts industry has
developed to a certain level with quite a large scale.
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