China Auto Industry: Running Fast
- By:James Marriot
The Chinese automobile industry is growing at an unprecedented pace. American car manufacturers take China as a burgeoning market that could aid them make up for declining profits. European and Japanese carmakers also hold big hopes for Chinese automakers.
China's entrance in WTO (World Trade Organization) in 2001 restrained its tendency of selling dated cars & Chinese customers with growing amounts of disposable incomes now require the latest & the greatest products.
Thus, incredible opportunities for business are available for overseas companies in China's automobile industry. However, foreign companies have faced great amount of difficulty in getting access to the Chinese automotive market. These foreign bodies have to deal with government bodies of China and the Chinese companies.
To make the Chinese automotive market accessible to foreign companies, a detailed study has been done on the potential of this sector. Due to this comprehensive study, the Chinese automobile industry has become accessible to foreign players.
Chinese automobile industry has, at last, become favorable and shown resemblance to its Japanese or South Korean counterparts. New laws, regulatory and financial backing, growing economy of China, cost-efficient labor and a huge population, all are making Chinese automotive a lucrative sector.
Currently, China has over a dozen state-run automakers. As per analysts, Chinese-built cars work better and are more fuel-efficient. More importantly, these vehicles are being made at prices that beat the blistering rate of economic growth of China.
Thus, for further information about Chinese automobile market and its growth potential, read the report: "China Automobile Industry (2005-2015)" published by RNCOS at:
http://www.rncos.com/Report/IM023.htm
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