China Expects to Export Over 500,000 Autos This Year

Represents an 50% increase from last year

Up 50% from 340,000 vehicles in 2006, China expects to export more than 500,000 vehicles in 2007, the commerce ministry said.

China is also exporting auto parts worth $8.85 billion, up 32.4% from a year ago.

The world's third-largest auto producer has already exported 294,000 cars in the first seven months of the year, up 70.3% year-on-year.

The country's production capacity is expected to reach 8.5 million units this year after growing at an average of 45.8% annually since 2002. The auto industry accounted for 3.7% of China's economy at the end of last year.

Copyright Agence France-Presse, 2007

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