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| Chinese auto stocks rise by 26％ |
| CCTV.COM 2003-07-17 08:07:49 |
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Chinese auto stocks have risen with the news of the First Auto Works' new production base in Changchun and its new joint venture with Toyota. In the first half of this year, the auto stocks have had an accumulated rise of 26％, far exceeding the performance of other stocks.
Many investors and experts say they feel upbeat about the future of China's auto industry.
Stocks of First Auto closed at 10 point 16 yuan yesterday, rising by 0.4％ from the previous day.
Other Chinese auto stocks such as Shanghai Auto, Dongfeng Auto, and Chang'an Auto also enjoyed a happy ride. Auto companies are predicting huge increases in net profits, some as high as 50％.
According to the latest from the National Bureau of Statistics, auto production in the first half of this year reached 2.07 million, increasing by 34.1％ in comparison with same period last year. Auto sales reached 2.02 million, increasing by 31.2％.
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Editor: Hou Meihong CCTV.com
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