|
Guangzhou, capital of Guangdong Province plans to produce 1.2 million cars by 2010 by taking advantage of cooperation with Japanese and ROK (the Republic of Korea) auto makers.
A robust auto industry has taken shape in Guangzhou, which produced 400,000 cars in 2004 with output value topping 46.6 billion yuan (5.61 billion US dollars).
Guangzhou is now the country's third largest auto producer following Shanghai and Jilin.
The Guangzhou Auto Industrial Group underwent share regrouping at the end of June and reshaped into the Guangzhou Auto Group Co. Ltd, which is trying to be wholly listed in one year, according to Huang Xiangdong, deputy general manager of auto group.
In the development of cars for commercial use, the Guangzhou Auto Group signed an agreement with Hyundai from the ROK in June to conduct all-round cooperation, which targeted at producing 230,000 such cars by 2010.
(Xinhua News Agency July 30, 2005)
|
