Ping Xinguang, director of the Guangzhou Economic and Trade Commission said at the Guangzhou Automobile Forum on March 10th that Guangzhou will become a global automobile accessory supply base by 2010.

Ping said the automobile industry has become a pillar industry in Guangzhou. Since the year 2000, the number of cars produced has increased at an average rate of 64%, with an average annual production increase of 50%. Last year, Guangzhou produced 280,000 cars, valued at 63 billion yuan.

Guangzhou expects to produce 1.3 million cars by the year 2010, with an output value of 300 billion yuan. Ping said, thanks to Guangzhou's dynamic auto industry, the auto accessory industry had an output value of 16.3 billion yuan in 2004, increasing 52% over 2003. By the year 2010, the whole output value will reach 100 billion yuan, making Guangzhou a global supply base. He also pointed out that the Guangzhou auto accessory industry is still behind the whole auto industry. The output value of auto parts accounted for only 30 percent of the whole auto industry last year.

Editor: Olivia