China Surpasses Germany in Auto Part Exports to the U.S.
Score One Inc. announced that China has surpassed Germany and become the second largest auto parts exporter to the US for the first time.
During the first quarter of 2007, China exported US$1.936 billion of auto parts to the U.S., which surpassed Germany's US$1.934 billion during the same period, an increase of over 27% for the same period last year.
Also, during the first three months of 2007, China exported US$6.123 billion auto parts worldwide, an increase of 32.4% the same period over last year. "China is moving up from basic goods like textiles, toys and shoes towards higher-value industrial goods that pay better wages and achieve higher operating margins," claimed Ms. Hoi-ho Kiu, Chairman and CEO of Score One, Inc.