HARBIN, June 17 (Xinhua) -- There is huge potential for cooperation between
China and Russia in the automotive trade, an official with the Ministry of
Commerce said at the first Sino-Russian forum on the auto market held here on
Sunday.
Zhi Luxun, who is in charge of machinery and scientific and technological
industries with the ministry, based his judgment on the fact that China has
become a major motor vehicle producer and consumer in the world, while Russia
boasts a sharp competitive edge in the auto industry and a comfortable
investment climate for the sector.
In 2006 China explored new markets for motor vehicles and auto parts, in
Europe. During the process, Russia's potential for automotive trade began to
emerge, Zhi said.
China exported 460 million U.S. dollars worth of automotive products to
Russia last year, a growth of 161.8 percent over the previous year, according to
the Ministry of Commerce.
Of the total, whole-vehicle exports stood at 38,000 units, up 331.9
percent, or 350 million U.S. dollars worth, up 312.5 percent. Exports of auto
parts increased by 20.7 percent to 110 million U.S. dollars
worth.