China Economic ReviewConstruction has started on a 65km highway in Shaanxi province. Twelve tunnels and 50 bridges will form part of the highway, which will connect the provincial capital Xian with Zuoshi county. One of the tunnels that will pass through Qinling Mountain will be 18km long, making it the longest in the country. The highway will […]
The Chinese authorities have approved Hyundai Motor's proposed joint venture with Beijing Automotive Industry, the Financial Times said. Hyundai plans to invest US$1.1bn in the plant over the next eight years, building a facility capable of producing 500,000 units annually by 2010. Production of Hyundai's Sonata and Elantra passenger cars at the plant is expected […]
Toyota Motor of Japan rolled out its first Chinese-made car in October, Reuters reported. The company hopes to reach annual sales 9 of 30,000 of the new model, the four-door Vios sedan. They will be produced under a broad agreement that the Japanese carmaker struck in August with First Automotive Works to produce 300,000 to […]
Sales of Chinese-made vehicles during the first three-quarters of 2002 exceeded the total for the whole of last year, according to the China Association of Automobile Manufacturers. The number of vehicles sold over the nine-month period reached 2.38m units, an increase of 34 per cent year-on-year. Passenger cars and heavy-duty trucks experienced particularly fast growth. […]
China is to allow the establishment of car finance companies, according to a draft proposal published by the People's Bank of China. Companies with at least Yn8bn in total assets and with profits for three consecutive years would be allowed to set up car finance ventures, providing they have capital of at least Yn500m. General […]