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 DEVELOPMENT OF CHINA'S INDUSTRY |
| With the rapid and persistent growth of national economy and the speeding-up pace of cars entering families, the produce and sale in China¡¯s automobile industry almost reached 9m in 2007, which was a new high record in history.
China¡¯s car output in 2007 was 8.8824m, up by 22.02% with a net increase of 1.6027m over 2006; the car sales volume was 8.7915m, up by 21.84%, with a net increase of 1.576m over 2006. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics of MOFCOM, 842 foreign investment projects in Automobile industry (Automobile Industry (Code C372) hereinafter is in accordance with the National Economic Industrial Classification (GB/T4754-2202£©.) were newly set up in 2007, 122 less than that of the same period in the last year, and the amount of the actual utilized foreign capital reached USD 1800950,000, down by 16.03£¥ year-on-year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| Under the commitments of China's accession to the WTO, as set forth in the Protocol and its annexes as well as in the Working Paper Report, China, after accession, will gradually liberalize the domestic automotive market with respect to such fields as tariff, non-tariff, investment and trade in services. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| Germany Automobile Industry Association declared recently in Frankfurt that the exported amount of Germany automobile was up to 3.9 million in 2006, which is a new record after three years¡¯ continuous growth. Germany car export amount in 2006 was 170 billion Euros with 8% growth, taking account of 17% of total export amount. Calculated by Germany Automobile Industry Association, 20% Germany export cars were enter America market, and 60% were accepted by Western Europe. |
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