CNHTC to be listed on the Hong Kong stock market soon

China National Heavy-Duty Truck Corp (CNHTC), the country's third-largest truck maker and a partner of Volvo AB, will possibly be listed as a "red chip" company in Hong Kong Stock Exchange this summer.

Reports from National Auto Industry Association show that sales of CNHTC in 2006 are projected at 60,000 trucks with revenue for that year seen at 21 bln yuan, hitting a record in the truck market. Currently the corporation is the leading heavy truck producer in China, with a market share of 25% in the market segment.

The Shandong-based truck maker said it would make more efforts to explore the oversea market while maintaining the sustainable growth in domestic market. Foreign exchanges earned by export were 200 million yuan last year, while CNHTC targets at 300 billion yuan by this year end and exports at 10,000 full-sized vehicles. According to auto insiders, the overseas market share of CNHTC is forecasted to occupy one third of the total by 2010, and its listing in Hong Kong may pave the way for the corporation's expansion strategy.