German auto giant BMW Group on Friday began recalling more than 21,000 luxury sedans in China to fix a faulty brake system, while British carmaker Jaguar Land Rover recalled 30 Discovery 3 TDV6 diesel vehicles, China’s quality watchdog said Friday.
BMW’s recalled vehicles in China included 21,383 imported BMW 5, 6 and 7 Series autos manufactured between Dec. 14, 2001, and Nov. 23, 2009, along with 388 Rolls-Royce Phantom luxury cars manufactured between Jan. 1, 2003, and Nov. 30, 2009, according to a statement on the website of the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ).
BMW’s recall is to fix faulty brake boosters, which may be contaminated by lubrication inside the vacuum pump and could cause the failure of the brake boosting function, according to the GAQSIQ statement.
Jaguar Land Rover’s recalls in China, much smaller in scale, covered 30 units of imported Discovery 3 TDV6 diesel vehicles which have defective fore bearing lubrication inside the high-pressure fuel pump, according to a separate GAQSIQ statement.
The Jaguar vehicle defect may cause a fuel leak or even fire under extreme conditions and is a potential safety hazard, according to GAQSIQ.
In recent years, China has re-invigorated its support for leading state-owned enterprises in sectors it considers important to “economic security,” explicitly looking to foster globally competitive national champions.
In 2009, China announced that by 2020 it would reduce carbon intensity 40% from 2005 levels.
China is also the second largest trading nation in the world and the largest exporter and second largest importer of goods.
The PRC government’s decision to permit China to be used by multinational corporations as an export platform has made the country a major competitor to other Asian export-led economies, such as South Korea, Singapore, and Malaysia.
The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
The two most important sectors of the economy have traditionally been agriculture and industry, which together employ more than 70 percent of the labor force and produce more than 60 percent of GDP.
A report by UBS in 2009 concluded that China has experienced total factor productivity growth of 4 per cent per year since 1990, one of the fastest improvements in world economic history.
China’s increasing integration with the international economy and its growing efforts to use market forces to govern the domestic allocation of goods have exacerbated this problem.
The ministry made the announcements during a press conference held in Xiamen on the upcoming United Nations Conference on Trade and Development (UNCTAD) World Investment Forum and the 14th China International Fair for Investment and Trade.
” Although the figure is already “quite amazing,” the volume is “not large enough” considering China’s economic growth and local companies’ expanding demand for international opportunities, Shen said.
China is expected to have 200 million cars on the road by 2020, increasing pressure on energy security and the environment, government officials said yesterday.
China’s challenge in the early 21st century will be to balance its highly centralized political system with an increasingly decentralized economic system.
Since the late 1970s, China has decollectivized agriculture, yielding tremendous gains in production.
In terms of cash crops, China ranks first in cotton and tobacco and is an important producer of oilseeds, silk, tea, ramie, jute, hemp, sugarcane, and sugar beets.
Due to improved technology, the fishing industry has grown considerably since the late 1970s.
Offshore exploration has become important to meeting domestic needs; massive deposits off the coasts are believed to exceed all the world’s known oil reserves.
China is among the world’s four top producers of antimony, magnesium, tin, tungsten, and zinc, and ranks second (after the United States) in the production of salt, sixth in gold, and eighth in lead ore.
China’s exploitation of its high-sulfur coal resources has resulted in massive pollution.
Great inland cities include Beijing and the river ports of Nanjing, Chongqing, and Wuhan.