ING: CHINA TO BE NO.5 AUTO PRODUCER IN 2004
AsiaInfo Services, January, 2003
AsiaInfo Services 01-29-2003 ING: China to Be No.5 Auto Producer in 2004 SHANGHAI, Jan 29, 2003 (SinoCast via COMTEX) -- The Financial Market Department of ING made known a market expectation report concerning China automobile industry on January 23. According to the report, the growth of China automobile industry will surpass that of Canada, Spain and Korea in the following several years.
In 2004, China automobile industry will grow by 47% and will become one of the world's largest automobile producing countries. The experts of the ING believe that in 2002, China's GDP per capita had arrived at USD 1000. After this threshold, the common people will have fast-growing demand for automobiles. The ING further forecasts that Chinese government will take concrete...
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