China, global automakers' top investment spot

Global automakers view China as the top investment destination for large demand and export opportunities, said a KPMG report released on Thursday.

Seventy percent of 200 automotive executives in 31 countries view China as their top investment destination, overtaking other BRIC countries. Sixty-three percent of the surveyed executives consider India as the top investment destination, followed by 54 percent choosing Russia, and 48 percent selecting Brazil, Caixin.com reported Thursday.

In the KPMG survey, 94 percent of the executives expect vehicle sales to boom in the Chinese market, driven by the rising middle class and urbanization. They also predicted that over the next five years, four out of 10 top market leaders in the global market will be from China.

China is a highly attractive market for its growth potential in long term, said Andrew Thomson, head of automotive at KPMG Asia Pacific and China.

"It is no surprise that automakers are making significant investments in China more than that in other BRIC countries and the TRIAD market, consisting of Japan, Western Europe and North America Free Trade Area," Thomson said.