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China, the world's fastest growing car market, saw a fast growth in automobile and related products exports in the first six months of 2005, while the imports dropped due to several factors.
During the January-June period, China exported US$ 4.877 billion worth of automobiles, components and spare parts, representing a year-on-year increase of 38.3 percent, with the exports of automobiles standing at 378,800, nearly 143 percent that of the corresponding period of 2004, the People's Daily said on Monday.
The foreign exchange earnings from auto exports amounted to US$762 million, 162 percent that of the same period of last year.
During the period, China's exports of sedans witnessed a 183 percent surge to 9,600 units, recording the fastest growth rate.
At the same time, China's import volume of automobiles, components and spare parts plunged by 36.2 percent to US$5.535 billion.
In the six-month period ending in June, China imported 64,600 units of complete cars valued at 1.957 billion yuan (2.4 million dollars), a drop of 33.2 percent and 34.4 percent respectively year on year.
An official with the Ministry of Commerce said China imported an average of approximately 15,000 units of cars each month last year. The figure dropped to some 11,000 monthly this year.
He ascribed the decrease to increased production of domestic-made cars, RMB exchange rate fluctuations, the appreciation of euro, as well as state policy factor.
Industry insiders here welcomed the trade surplus in car import and export, saying that China's auto industry has scored marked progress thanks to 20 years of cooperation with foreign firms in the field. Automobiles manufactured in China are very competitive on the world market in terms of price. So it is natural for China to see a big rise in car export volume in the long run.
But they warned that the industry should not have "blind optimism".
Xu Xiangyang, deputy director of the Automobile Engineering Department of the Beijing Aerospace University, acknowledged that China's car export volume is "virtually nothing" as compared with the global total car export volume.
It takes a car maker years of experience to develop and expand its overseas business, said Xu, citing Toyota as an example.
Zhang Xiaoyu, director of the China Automobile Engineering Society, attributed the trade surplus to the recent RMB exchange rate fluctuations and state policy.
Zhang, also deputy president of the China Machinery Industry Association, held that cars made in China have just entered the international market, which is facing cut-throat competitions, and the country's export volume is small. China still has a long way to go to become a world major car manufacturer and exporter, he said.
(Xinhua News Agency August 23, 2005)
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