Every 1,000 Chinese to own 40 cars in 2010
(Shanghai Daily)
Updated: 2006-05-24 09:13 China's car ownership ratio
will rise to 40 cars for every 1,000 citizens by 2010, compared with the current
24, China News Services reported yesterday.
The National Development and Reform Commission predicted that 55 million
vehicles will be running on China's roads, while the annual production rate will
hit 9 million units a year in 2010.
"In the coming five years, we will improve the product line of the whole auto
industry," Li Gang, an official from the commission, said during a Sino-Germany
forum on high-end technologies. "We hope, even given that increase, the oil
consumption will increase by no more than 50 percent."
"We also hope by 2010, domestic automakers will be able to sell 10 percent of
their automobiles and 50 percent of their motorbikes to the international
market," Li added. "At that point, major Chinese producers of auto parts will
become a part of the world's automotive production chain."
As the third-largest car market in the world, the average number of cars
retained in every 1,000 Chinese citizens is only 24, compared with more than 700
in the United States and world average of 120.
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