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The new BMW 5 series of sedans, China's most luxurious domestically-made autos so far, debuted in Beijing Thursday, marking the heated competition among world-level luxury car manufacturers in a "made in China" campaign.
"The new 5 series means that we have brought the most advanced product to Chinese customers," said Helmut Panke, chairman of the board of management of the Germany-based BMW Group.
The joint venture between BMW and its Chinese partner Brilliance Auto plans to gradually realize a 40 percent localization rate.
Experts say that, as the buying power of Chinese people rises, luxury cars have begun to enter China. And their "made in China" campaign indicates fiercer competition.
Earlier this month, General Motors announced it will introduce its luxury Cadillac to China, with some produced in Shanghai. This will be the first time that Cadillacs have been produced outside the United States.
Mercedes-Benz will also be produced in China soon, years after Audi has worked with its Chinese partners to make luxury cars in the country.
To produce in China has been a common choice for many car producers in the globlization era, due to the low labor cost and high technical skills here.
Experts say that the "made in China" competition will widen the choice of Chinese customers, and help improve the technological level of China's automotive industry or even the whole manufacturing industry.
(Xinhua News Agency November 28, 2003)
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