Guangzhou emerges as car powerhouse

Guangzhou, capital of Guangdong province, manufactured 879,400 vehicles in 2008, overtaking Shanghai for the first time as the nation's largest automaker. The city's car making sector replaced its petrochemicals industry in 2006 as its number one economic mainstay, and was worth ¥250 billion last year accounting for 10% of the entire industry nationwide. Toyota and Honda have partnerships with local carmakers.

$1 = ¥6.8