China＇s Auto industry Steps Forward

Last year, the volume of China＇s auto trade reached US$66.878 bil- lion of which imports accounted r for US$25.982 billion, a year-on-year increase of 24.45 percent; while exports totaled US$40.896 billion, growing by 45.31 percent. The China Association of Automobile Manufacturers （CAAM） predicts that the number of autos sold in 2008 will break the 1 million barrier for the first time in history, representing an increase of about 20 percent.

China's Auto Industry Steps Forward