China Automotive Systems to Present at Chinese Financial Forum

SHANGHAI, China--Oct. 7, 2003--China Automotive Systems, Inc. (OTCBB:CAAS) today announced that it has been invited to exhibit and present at the Chinese Financial Forum at Sheraton Parkway Hotel in Richmond Hill, Ontario on October 26, 2003. The presentation will be on the company's business overview and future plans and will be open to investors' questions. The conference is targeted towards mostly Chinese investors and investment advisors who are looking for investment opportunities in the micro to small cap area. The conference will have an estimated attendance of 1,000-1,200 for the day.

About China Automotive Systems

Based in Shanghai, China, China Automotive Systems, Inc. is registered as a Delaware Corporation. Through a wholly owned subsidiary, it owns a joint-venture interest in four entities in China that manufacture power steering systems and other products for different segments of the automobile industry in China. It is ranked No. 2 in the power steering segment in China with 20%-25% of that market. CAAS has well positioned itself to be a beneficiary of the thriving automobile industry in China.

The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.