Auto Mag on the Net

 

According to an article published by Network Center of MOFCOM, China has been able to surpass Germany as the second largest auto parts exporter to the US for the first quarter of 2007.

China has exported US$1.936 billion of auto components to the US which is more than that of Germany’s US$1.934 billion for the same period posting an increase of over 27 percent still for the same period last year.

For the first three months of this year, China has been able to export US$6.123 billion auto parts worldwide, which is an increase of 32.4 percent covering the same period last year.

According to Ms. Hoi-ho Kiu, Chairman and CEO of Score One, Inc. "China is moving up from basic goods like textiles, toys and shoes towards higher-value industrial goods that pay better wages and achieve higher operating margins. We believe we are in an ideal position to capture the rewards from this higher-value movement. Our country, China, is strongest in electrical and electronic components and in cast metal parts that require lots of manual labor of machining."