Delphi Automotive Systems (DAS), the world's leading auto parts producer, has announced its business is booming in China.
Jose Maria Alapont, chief executive officer for DAS global business, said its great progress on the Chinese market had made the Asia-Pacific region the source of the fastest growth in DAS sales worldwide.
According to latest statistics, DAS sales in the Asia-Pacific region in 2002 totaled US$1.2 billion, up 22 percent over the previous year.
DAS sales on the Chinese market had maintained an annual growth rate of over 30 percent during the past two years, Alapont said, adding the demand for hi-tech products on the Chinese market was rising sharply.
DAS so far has set up over 10 solely-funded companies and joint ventures in China, with an overall investment exceeding US$500 million.
(Xinhua News Agency March 20, 2003)