Experts Discuss Way out for Car Industries

In a forum held yesterday, Government officials, head of car manufacturers and experts shared opinions about coping with the current financial crisis. The forum was part of the agenda of the ongoing Guangzhou Auto Show. Our journalist Yu Sulin has more:

Xu Changming, director of the Economic consulting department at the State Information Center gave figures to show the impact of the crisis on the car industry:

"The most obvious impact is on exports. Over the past 5 years, China's car exports increased by 80 to 110% annually. However, in the first 9 month of the year, the growth rate dropped to 36%."

To find a way to boost car sales, Xu suggested to hunt for opportunities on the international market.

"We must exploit the middle-developed countries. It's good opportunity. Even though their consumption capacities are decreasing, they still want to buy cars."

Board Chairman of the Society of Automotive Engineers of China, Zhao Xiaoyu as to him, advised to focus more on rural markets.

"We should stimulate rural resident's pursuit of a better life. If 800 million rural residents are buying cars, why should we worry about a decrease in exports?"

AmCham to Collect Funds for Quake-hit Sichuan

The 2008 Winter Charity Ball held by the American Chamber of Commerce in South China (AmCham South China) is to be held at the Shangri-La Hotel Guangzhou on Saturday night (Nov 22nd). AmCham South China will continue its close partnership with China Foundation for Poverty Alleviation to collect funds for the reconstruction of quake-affected areas in Sichuan province.

Govt shows milky way to troubled dairy firms

The central government unveiled on Wednesday a robust plan to clean up and revive the dairy industry, which was hit hard by the recent milk contamination scandal. The plan states that, about 30 percent of cows will have to be raised in big farms of over 100 animals, and at least 70 percent of raw milk processed by a dairy company should come from its own farms, instead of from individual farmers.