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    Greater China
     Feb 15, 2005
Auto parts industry set to boost output

SHENYANG - World auto giants are expected to purchase as much as US$50 billion worth of auto parts and components in low production cost countries before 2007, with 70% from China, according to predictions made by the Customs Administration of Shenyang in northeast China.

This, plus surging domestic demand, would bring a tremendous opportunity for Chinese auto parts and components factories, industry sources said.

Shenyang, one of China's major auto parts production bases, exported $92.65 million worth of vehicles and auto parts and components last year, a 45.9% gain from 2003. The cars and parts were exported to more than 70 countries, Shenyang Customs said.

China's auto parts and components production mainly serves the country's fast developing auto market, which has attracted automakers such as GM, Daimler-Chrysler, BMW and Toyota.

To seize the opportunity and increase exports, China's auto parts factories have to improve their technology and move to larger-scale production, said industry sources.

(Asia Pulse)

 

 
 

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