America Asia Petroleum (OTC Pink Sheet: AAPM) has been cultivating business relationships in China, and is about to benefit from the explosive growth of China’s automobile industry. China, with a population of 1.2 billion, is on track to become an automotive market similar to the USA. The company plans to support that growth by providing the Chinese with petroleum-based products and a cost-effective asphalt binder that makes roads last longer.
All the major USA automotive companies including Ford and GM have plants in place to build China-style automobiles to meet the escalating need for cars and trucks. China’s automobile industry has grown from 1.3 million autos and trucks in 1978 to 13.2 million this year.
China became the third largest vehicle market when in 2002 demand for cars in China soared by 56%. Many expect car sales to increase by 10-20% annually for several years to come.
America Asia Petroleum, with offices in China and USA, is an energy company that presently operates through joint ventures in China.
For more information please go to: http://www.americaasiapetroleum.com/.