Beijing Auto Parts Company plans of entering the market to ease the financial pressure

Beijing Auto Holding Company is preparing to set up an auto parts company -- Hainachuan auto parts Ltd., Co. The Company may be listed earlier than the Beijing Auto Holdings to alleviate the capital shortages.

Xu Heyi, chairman of the company, pointed out that sales revenue of Beijing Auto holdings will reach 145 billion Yuan by 2010, its efforts is to enter the world's top 500. The auto parts sales income will reach 13 billion Yuan.

Restructuring and reshaping of the auto parts industry is the priority at the moment. Beijing Auto holdings hoped that the Hainachuan auto parts Ltd., Co. will provide the support system for the four companies -- Beijing Benz, Beijing Hyundai, Beijing Foton and Beijing Auto, shifting the massive outflow of auto parts in a profitable outcome.