Jia Qinglin attends ground-breaking ceremony of Beijing Hyundai's 3rd plant
- Source: Xinhua
- [09:06 November 29 2010]
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Jia Qinglin (R, front), chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with Hyundai Motor Chairman Chung Mong-koo (L, front) before attending a ground-breaking ceremony for construction of Beijing Hyundai Motor's third auto plant in Shunyi District in Beijing, Nov. 28, 2010. Photo: Xinhua
China's top political advisor, Jia Qinglin, attended a ground-breaking ceremony for construction of Beijing Hyundai Motor's third auto plant in Shunyi District in suburban Beijing Sunday.
Prior to the ceremony, Jia met with Hyundai Motor Chairman Chung Mong-koo and other guests. China and the Republic of Korea (ROK) have been upgrading relations, as well as political and cultural exchanges, since the forging of diplomatic ties in 1992, Jia noted.
Trade between the two countries topped $150 billion during January-September this year, up 36.7 percent year-on-year. China has become the ROK's largest trade partner and largest export market, Jia said, adding that the ROK is now China's third largest trade partner.
A joint-venture and subsidiary of Beijing Automotive Industry Holdings and Hyundai Motor, Beijing Hyundai was established in 2002 and manufactures Hyundai-branded automobiles for the Chinese market.
While China' s economy has been growing at a stable and relatively fast pace, the automobile industry, a representative pillar sector in China, has shown robust growth and is expected to produce more than 15 million automobiles this year, Jia said.
Also, the Chinese government has been encouraging automobile manufacturers to boost their research capacity and production of clean-energy-powered automobiles, seeking higher requirements for Beijing Hyundai in its future development, he said.
Facing the new conditions, Beijing city and ROK Hyundai Motor must cooperate closely to improve high-technology and management levels to grasp the opportunities created by the boom in the Chinese automobile sector, he said.
Beijing Hyundai's third plant, located in Yangzhen Township in Shunyi District, will have an annual production capacity of 400,000 vehicles when completed in 2012. Hyundai's two plants, also in Shunyi, currently produce a combined 600,000 units per year.
