Chinanews, Beijing, December 14 – “There is nothing to worry about China's auto industry nowadays. In fact, it is very promising, especially when private cars take up the greater share of the market,”said Zhang Xiaoyu, vice director of China Machinery Industry Federation, in a recent interview.

 

Great achievement has been made by China's auto industry since 2001, especially in the aspect of private cars, which currently take up 70% of the domestic market, while the figure was only 30% back in 2001.

 

It is estimated that more than 7 million cars will be sold in China this year, more than the figure in Japan. Chinese auto makers are confident of selling 8 million cars in 2007, to make China the second largest auto market, next to the US.