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(From Agence France Presse)
Honda has announced plans to increase production at its Chinese joint venture by 90 percent this year even as government officials warn they may take action to prevent the fiercely competitive auto market from overheating.
Guangzhou Honda Automobile Co. Ltd. said it aimed to produce 112,000 vehicles this year, up from 59,000 in 2002, as the first new upgraded Accord model rolled off the production line on Wednesday.
Production capacity at the plant in this southern Chinese city is now 120,000 cars but the company, a 50-50 joint venture between Japan's number two automaker and Guangzhou Automobile Industrial Group, plans to double it to 240,000 by spring 2004.
Qian Minghui, …