Move to boost car exports

A series of measures are under consideration that are intended to increase car exports, the Financial Times reported, citing officials and industry executives. The government is said to be looking at raising export credits and insurance for manufacturers as well as offering greater support to companies developing their own brands. Furthermore, approval for new production facilities could be tied to greater export commitments. While this export drive would ease pressure on a domestic auto sector blighted by oversupply, it also indicates China's desire to make a name for itself in the international car market. The government has targeted a 10% share of global sales by the end of the next decade. Auto manufacturing capacity is set to reach 18 million cars a year by 2010 against likely demand of around 10 million.