(Yicai Global) Dec. 19 -- China's car production and sales are expected to hit 29 million units this year to hit a new high and cement the nation's position as the world number one for the ninth straight month, the Ministry of Commerce said at an automotive conference in Shanghai yesterday.

The ministry forecast that China will soon have more than 200 million vehicles in circulation to make it the world's second largest market in terms of car ownership.

China will continue to extend its reform of the entire auto supply chain, promote Big Data and cloud computing applications, improve the nationwide motor data management system and set up an information system to cover the entire life cycle of vehicles, the ministry said.