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China close to world level in auto-part
(Xinhua)
Updated: 2004-05-01 11:20

China has reached the world level of the late 1990s in auto parts manufacturing, said Shen Ningwu, vice secretary-general of the China Association of Automobile Manufacturers.

Auto parts makers in China now could basically satisfy market demand for components of imported cars, said Shen at a seminar on the country's development in auto and auto parts industries, the first event of its kind ever held in China, in Qingdao, east Shandong Province.

Big auto parts production bases have taken shape in northeast Liaoning Province, Shanghai, and central Hubei Province, Shen added.

But Shen stressed that China still needs to improve product mix, expand production and enhance product development to upgrade its auto-part industry to a new stage.

China exported US$3.25 billion worth of auto parts in 2003, up 26 percent from a year ago, Shen said.

China is now home to 4,413 auto parts manufacturers, more than 800 of which are Sino-foreign joint ventures, employing nearly 700, 000 persons in total.

The auto parts industry in China reported 264 billion yuan (US$31.8 billion) in sales in 2003, up 37 percent year-on-year.

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