Tuesday, August 14, 2007
Aug. 14, 2007 (Xinhua News Agency delivered by Newstex) -- Auto joint ventures in China focus on research and development
BEIJING, Aug. 14 (CEIS) – Sino-foreign auto joint ventures are focusing on research and development in order to survive the Chinese market.
Auto joint ventures like Shanghai Volkswagen, Beijing Motor, Guangzhou Honda and ChangÂ’an Ford all recently announced their independent research and innovation plans.
“Exchanging technology with market” has been a strategic principle of China’s automobile industry, which produced effect below expectation through the practice over the past two decades.
In view of the current auto development situation, the National Reform and Development Commission has issued a notice to adjust the structure of automobile industry to encourage auto enterprises to undertake technical innovation and develop new products independently.
According to the statistics of China Association of Automobile Manufacturers, China manufactured and marketed 7.28 million and 7.22 million autos, respectively, in 2006, up 27 percent and 25 percent year on year. The output and sales in the first half of this year came to 4.45 million and 4.37 million, up 22 percent and 23 percent.
China has become the third biggest car manufacturer and the second biggest car consumer.
Since last year, ChinaÂ’s independent auto brands have accounted for more than 25 percent of the automobile market shares.
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