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China"s auto industry has been developing vigorously to withstand challenges posed by the global financial turmoil, said an official of China"s top economic planner. The National Development and Reform Commission believed that there are three factors to affect the whole industry: the country"s sound economic environment, its solid industrial foundation and sharpened competitive edge in the global market for improved product quality.
Statistics show the nation"s auto output have maintained fast growth for night consecutive years. From 2001 to 2009, the average annual growth rate of the auto sector reached 25 percent. In 2006, the country"s auto output and sales increased by 22 percent and 23 percent to 4.5 million and 4.4 million units respectively. In the first eleven months of this year, China totally sold more than 12 million autos.
China"s auto industry, however, is still obsessed with three problems including overcapacity, underdeveloped auto part industries and unsatisfactory services, said the vice minister. After all of these problems are solved, China auto industry will meet another soar. In the year of 2009, China overtakes the United States of America to become the world"s No. 1 auto market. In November, the total sale reaches 1.35 million units. The good results hit the month sales record in 2009.