China's car output tops the world

China's domestic auto output of 8.47 million in the first half of the year tops the world's auto industry, according to statistics released by China Auotomotive Technology Research Center, the Legal Evening News reported today.

Domestic autos below the price of 80,000 yuan ($11,811) make up 80 percent of the domestic low-end market but will be moving toward the mid- and high-end market. European cars secure 90 percent of the high-end market above 350,000 yuan ($51,673).

China's macro-economic environment and favorable policies for the auto industry account for the increasing domestic auto output, according to reports.