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Auto industries power economic growth
   CCTV.COM   2003-08-05 15:08:34   
    A report on the development of China's industries says China's economic growth will maintain a sustainable and rapid development in the latter half of 2003. Major industries such as auto manufacturing and iron and steel makers will help mobilize the economy.

    Experts predict that China's future economic growth will rely on the rapid and sustainable growth of a group of major industries, including automobiles, metal and machinery.

    "These industries have the great potential to push others forward. As car markets are getting more and more brisk, for instance, industries including rubber, iron and steel, and paint have been stimulated at the same time. And what's more, prices of relevant products are also coming down, which helps stimulate popular consumption from the other way round," said Yang Jianlong, director of Development Research Center of China's State Council.

    Experts say the new high-economic-growth industries are deriving from the new patterns of consumption. Now that China's market economy is more mature, it is more readily able to adjust to consumer demand.

Editor: Xiao Wei

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