GERMAN AUTOMAKER TO SHARPLY BOOST CHINA PROCUREMENT
AsiaInfo Services, April, 2006
AsiaInfo Services 04-17-2006 German Automaker to Sharply Boost China Procurement BEIJING, Apr 17, 2006 (SinoCast via COMTEX) -- Volkswagen AG, the German giant automaker, will sharply boost its China procurement from last year's USD 10 million to USD 1 billion this year, according to the official website of the Ministry of Commerce of China. The German automaker explained that the prices of China-made automotive parts and components are cheaper than those by developed countries, due to China's overwhelming advantage in labor cost, roughly one fifth of the developed countries. The expanded procurement will incorporate not only products with low technical contents, but also some high-tech products produced by those Sino-foreign ventures in China, according to a...
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