If successful, the exports will account for 40 percent of total automobile and component sales in China at the time, according to Wei, who revealed the export goal at a recent forum held in Changchun, capital northeast China's Jilin Province.

"Our short-term target is to increase automobile and component exports to 15 to US$20 billion next year," he said.

"The move will help China attract more foreign investments, accelerate the auto industry's development trend under world economic globalization," Wei said.

(eastday.com April 5, 2004)