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TIANJIN, Sept. 5 (Xinhua) -- Executives from China's auto makers Sunday rejected an official warning that unchecked growth in the industry was leading to excess capacity and could harm the wider economy.
Chen Bin, an official with the National Development and Reform Commission, China's top economic planner, Saturday said excess auto capacity threatened sustainable economic development and must be "resolutely" stopped.
But industry representatives and the China Association of Automobile Manufacturers (CAAM) Sunday argued car makers were only trying to meet expected demand in the world's largest auto market.
Dongfeng Automobile, a major Chinese auto manufacturer, had been running in top gear since last year, said Fan Zhong, a senior manager. "Our problem is not having enough capacity."
Most entrepreneurs at the International Forum on Chinese Automobile Industry Development in Tianjin had similar views.
Ford China was focusing on expanding capacity as demand kept rising, said CEO Robert Graziano.
The overall capacity of China's auto industry might seem excessive, but the market had huge potential for restructuring and growth, said Hu Xinmin, honorary chairman of the CAAM.