June 2, 2004

JAMA Welcomes China’s New Automotive Policy
and Looks Forward to Contributing to Further Progress

Itaru Koeda, Chairman

The purpose of the new automotive policy recently formulated by the Chinese government, as the Japan Automobile Manufacturers Association (JAMA) understands it, is to provide a fundamental industrial framework for the promotion of a strong automotive sector in China, on the basis of which motorization in that country will be able to progress to its next stage.

For its part, the Japanese automobile industry will continue to contribute to the sound advancement of the Chinese auto industry through, among other avenues, joint-venture undertakings between Japanese automakers and local enterprises as well as through participation in the Japan-China Government & Private Sector Industry Development Dialogue.

Should requests arise from the perspective of a customer of China, we look forward to having the opportunity to make constructive proposals to the Chinese government in regard to its new automotive policy, by means of the aforementioned bilateral public/private-sector dialogue and other channels.