(Reporter Wang Xuexuan) Yesterday, the Beijing Automotive Industry Development Program, formulated by the Beijing Municipal Bureau of Industry Promotion, was officially released. The plan outlines a bold vision for the city's auto industry, aiming to position it among the top five national automotive groups in China. By 2008, the sector is expected to become a key pillar of Beijing's economy.
The development goals set out in the plan are ambitious. By 2008, the industry aims to achieve production and sales of 1 million vehicles, with a target of reaching 1.2 million units. Sales revenue is expected to reach 100 billion yuan, with an aspirational goal of 120 billion yuan. Industrial output is projected to increase by 27 billion yuan, with a target of 32 billion yuan. The domestic market share is set at a minimum of 10%, with a long-term aspiration of 12%. As a result, the automotive sector is expected to contribute more than 6% to Beijing's GDP by that year.
In terms of industry structure, the plan emphasizes a balanced approach. Passenger cars (including cars and SUVs) are expected to account for around 60% of the market, while commercial vehicles such as heavy trucks, light trucks, and buses will make up the remaining 40%.
The industrial chain development strategy includes both the parts manufacturing and service trade sectors. In the parts production chain, the focus is on leveraging vehicle development resources to attract both domestic and foreign suppliers to establish factories in Beijing. This effort aims to boost local component manufacturing and increase the localization rate of parts used by major auto plants in the city to 40% by 2008. Additionally, the sector plans to support other Chinese automakers, with an output value target exceeding 60 billion yuan.
On the service trade side, the plan focuses on enhancing the automotive sales environment, promoting standardized maintenance systems, introducing advanced logistics and distribution networks, and developing auto finance and insurance services. By 2008, sales in the Beijing auto market are expected to reach approximately 70 billion yuan. Furthermore, improvements in maintenance, usage, infrastructure, and management are anticipated to generate around 140 billion yuan in service trade output for the regional economy.
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