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Auto parts import grows steadily
Latest Updated by 2006-10-30 14:16:37
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Auto parts import grows steadily

The economically booming Guangdong Province in south China, a motor vehicle manufacturing base, imported 1.13 billion U.S. dollars worth of auto parts in the first three quarters, a growth of 17.8 percent year-on-year.

According to local customs sources, of the total, 1.04 billion U.S. dollars worth of auto parts, or 92.3 percent, were imported from Japan, up 17.3 percent, and 30 million U.S. dollars worth, from the European Union, up 36 percent.

The nine-month period saw Guangdong's imports of car automatic gear boxes went up 49.6 percent to 390 million U.S. dollars worth, or 34 percent of the province's total, the sources said.

The robust growth of auto parts import were partly ascribed to expansion of motor vehicle production in Guangdong and a reduction of import duties from 12.9 percent-18.6 percent to 10 percent.

Increasing demand for auto parts for maintenance of imported vehicles also accounted for the import growth, the sources added.

Between January and September, China imported 165,000 motor vehicles, up 43.2 percent.

Editor: Yan

By: Source: China Daily Website
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