AUTO SECTOR TO ALLOW MORE JOINT VENTURES

AsiaInfo Services, June, 2001

AsiaInfo Services 06-13-2001 Auto Sector to Allow More Joint Ventures CHINA, Jun 13, 2001 (AsiaPort via COMTEX) -- Calls are growing for the the Chinese Government to allow more Sino-foreign joint ventures in the auto sector to be set up in China to increase competition and benefit the consumer. These calls are in line with the fact that most Sino-foreign joint ventures operate better than Chinese auto makers and create a majority of the industry's profits in the country. The China Association of Automobile Manufacturers said last week that more than 60 per cent of the 6.8 billion yuan (US$819 million) in profit made in the auto industry during the first four months of this year were made by joint ventures, which account for less than 6 per cent of the total number...

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