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Nippon Denso, the world's fourth largest auto parts supplier, has reached tentative agreement with the China League of Auto Parts Markets on selling its products through the latter's vast marketing network.
According to a letter of intent, signed in Changchun, in Northeast China's Jilin Province, Nippon Denso will sell certain lines of its products, including spark plugs and rockers for windscreen wipers, through the league's 55 large-scale auto parts outlets in 22 provinces.
An league official said that China would definitely be dragged into a global purchasing wave after its entry into the WTO. The cooperation with Nippon Denso would result in fiercer competition in the domestic auto parts market, but would also help to regulate development of this sector.
"It will prevent the emergence of fake and shoddy goods in the market," said the official.
Nippon Denso, a subsidiary of the Toyota Motor Group, has established ventures in Tianjin, Yantai and Chongqing. The company reaped US$16 billion of sales in 2001 worldwide.
(Xinhua News Agency May 18, 2002)
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