Gasgoo.com (Shanghai May 21) - A recent study by the Institute of Economics of the Chinese Academy of Social Sciences reveals that the vast majority of profits made in the country's passenger automobile industry are taken by Sino-foreign joint venture enterprises, the Beijing Evening News reported today.
According to the study, titled the 2013 Industry Bluebook, Chinese automobile production and consumption numbers are now at the forefront of the world, with the country accounting for over 11 percent of the world's total automobile sales as of September 2012. However, as of 2011, over 95 percent of profits in the passenger automobile industry were made by Sino-foreign joint ventures.
