Rapid development of China automotive industry

As commonly known, since the 1980s Chinese automotive industry has maintained rapid development. Entering the new century, the development accelerated even more, keeping an increasing growth rate of two digits in four consecutive years. Based on its outstanding contribution to the high-speed growth of the national economy, Chinese automotive industry has become the third largest industry in China. China ranks fourth among the largest automobile manufacturing countries and third among the largest automobile markets in the world. The auto industry has become the driving engine of Chinese economy and the propeller for the escalation of the industrial structures. (AU)