China's Auto Industry Sees Better Trend of Developmen
China that were produced using local labor and materials. Such restrictions will vanish with WTO membership.
China's most important exports include footwear, clothes, toys, home appliances, machine tools, auto parts, hardware and furniture.
China's most important imports include agricultural products, aircraft, power generation equipment, oil extraction equipment, electronic appliances, chemical products and machinery.
Trade between China and the United States increased over 25 percent in 2000.
The United States is now China's 2nd largest trading partner.
U.S. INVESTMENT
Direct US investment in China increases annually. China approved 2,301 U.S. invested projects during the first 11 months of 2000. Contractual investment in these projects is valued at U.S. 7.3 billion with U.S. 3.6 billion already invested.
U.S. companies invested in the machinery industry, the metallurgical industry, oil processing, electronics, telecommunications, chemicals, textiles, light industry, food processing, the agricultural sector, pharmaceutical manufacturing, real estate, foreign trade and freight agent services.
The United States has been the largest investor in China for three consecutive years.
CHINA'S AUTO INDUSTRY
China's automotive industry has been maintaining an average annual growth of 24 percent in added value since 1990. This rate is higher than the average rate of the national economy.
The proportion of the output value of automotive industry in the national total ranged from 2.1-to-3.7 percent and that of its industrial added value from 1.8-to-2.9 percent between 1990 and 1998.
This added value from the automotive industry accounted for over 1 percent of the GNP.
China being one of the fastest growing automotive markets in the world, is having a substantial impact on the country's automotive manufacturing and aftermarket.
China launched 444 foreign-funded car part projects by the end of last year, involving investment of US $8.7 billion according to the China Association of Automakers.