Changchun auto industry output value to grow 21%

Shanghai, October 22 (Gasgoo.com) Changchun, a major manufacturing base of China's auto industry in northeast China's Jilin Province, is expected to see its gross output value of automotive industry reach 245 billion yuan ($35.9 bn), up 21% from a year earlier, the Xinhua news agency reported Tuesday.

A spokesman from the local government's auto industry regulatory body said that the automobile industry's output reached 706,000 units in the first three quarters this year and, for the full year of 2008, the industry output is set to hit 950,000 vehicles.

The auto industry's output value is estimated at 280 billion yuan next year, up 14% from this year's level, while the output is expected to rise by 13% to 1.04 million units.

Changchun city is home to many major automakers as FAW-VW, FAW Toyota, Zhongxing Auto. It is also an important auto parts distribution center.

By 2010, the gross output value of automotive industry of Changchun is expected to increase at an annual growth rate of 18% to 300 billion yuan, the city's foreign affairs office said on its website.