Report: Every family will own a car in near future

A Chinese Academy of Social Sciences report predicted that car ownership in China will likely reach 400 million in the future, China News Service reported.

Without giving an exact year, the report on urban development in China made the forecast based on the assumption that every family will own a car when the country realizes its goal of becoming a moderately prosperous nation.

According to the report, there are 130 million automobiles in China, including trucks and buses, which equates to a vehicle for every 10 people. The annual production of cars, which currently stands at 20 million a year, should at least double to meet the future demand, the report says.

The report also said that growth in car ownership will worsen traffic jams. It suggests cities should develop better public transit to ease congestion.