Auto parts output value in China to reach 1400 billion yuan by 2010

Statistics from Hong Kong media shows that mainland China has become the largest export hub for Hong Kong. In 2006 Hong Kong's exports to mainland China were valued at $1.56 billion, accounting for 1/4 of its total auto parts export volume.

In the first quarter of this year, Hong Kong auto parts exports to China were worth $87 million, accounting for 22.5% of total exports and were up 10.9% compared with the same period last year.

Huo Yiguang, President of China Federation of Industry and Commerce Auto& Motorbike Parts articles for use Chamber of Commerce, said recently production value of auto parts in China topped 400 million yuan, sales revenue and profit margins were 403.5 billion yuan and 23.6 billion yuan respectively. The output value is expected to hit 720 billion yuan by 2008 and 1400 billion yuan by 2010.

China's Standard Administration and Chamber of Commerce is making a draft on a new auto parts sales & export standard to regulate the auto parts industry, added Huo.