Stimulus policies: key to drive China to become the world's No. 1 auto market in 2009

By: Witman Liao   2010-02-04

Thanks to a series of incentivizing policies launched by the Chinese central government, the country witnessed a big leap forward in the automotive industry amid the chill of the global economic meltdown in 2009. When it harvested 13.79 million automobiles output and 13.64 million sold last year (up 48 and 46 percent year-on-year respectively), China surpassed the U.S. as the world's largest auto market in terms of new vehicle production and sales volume, a feat that would have been unthinkable only a few years ago.