Europe and South America are China's new eldorado for auto exports. In the first six months of the year, the value of the country's auto exports to the two regions rose by 520 percent and 117 percent year on year.

 

The growth indicates that China is expanding into new auto export markets," said Fu Peizhao, a senior engineer with the Automobile Branch of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME).

 

Statistics from CCCME show that China's auto exports to Europe represent 21.5 percent of the country's total automobile exports. Europe now ranks second after Asia, with Africa third and South America fourth, Shanghai Securities News reported on Wednesday.

 

From January to June this year, the value of China's auto exports to Asia and Africa grew by 113 percent and 34.6 percent year on year, the report said.

 

CCCME said China exported 125,500 motor vehicles to 171 countries and regions during the period, a rise of 86.8 percent on the same period a year ago. The value of auto exports reached US$1.255 billion, up 115.1 percent year on year.

 

(Xinhua News Agency August 3, 2006)