“CHINA has begun to enter the age of mass car consumpti

“CHINA has begun to enter the age of mass car consumption. This is a great and historic advance.” So proclaimed the state-run news agency, Xinhua, last year. Environmentalists may feel a twinge of fear at this burgeoning romance with motoring. But a rapid social and economic transformation is under way in urban China, and the car is steering it.

In 2002 demand for cars in China soared by 56%, far more than even the rosiest projections. The next year growth quickened to 75%, before slowing in 2004 (when the government tightened rules on credit for car purchases) to around 15%. But in a sluggish global market, China’s demand remains mesmerising. Few expect this year’s growth to dip below 10%. As long as the economy goes on galloping at its current high-singledigit clip, many expect car sales to increase by 10-20% annually for several years to come.

The Economist June 4th 2005

(FUVEST 2006 1ª FASE) According to the passage, Xinhua

reported, with pride, in 2004, the beginning of a new era for China.

had proclaimed that China’s car industry would boom in 2004.

played an important role in China’s social and economic transformation.

considers the new bank lending rules to be responsible for China’s mass car consumption.

pointed out, in 2004, that China’s car industry would grow beyond expectations in the short run.

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