BUSINESS China's auto imports, exports further expand

BUSINESS

China's auto imports, exports further expand

Xinhua

10:38, November 21, 2020

A worker exams a newly assembled car at the passenger vehicle assembly plant of Anhui Jianghuai Automobile Group Corp., Ltd. in Hefei, east China's Anhui Province, June 19, 2020. (File photo: Xinhua)

BEIJING, Nov. 21 (Xinhua) -- China's automobile imports and exports continued its growth momentum in October by gaining 48.9 percent year on year, according to data provided by the China Association of Automobile Manufacturers (CAAM).

Last month, the import and export volume totaled 15.33 billion U.S. dollars, gliding by 2 percent from a month earlier, said the CAAM, citing customs data.

In breakdown, auto imports climbed by 73.3 percent year on year to 8.33 billion dollars in October while exports rose by 27.5 percent to 7 billion dollars during the period.

In the first ten months of the year, auto imports and exports totaled 118.37 billion U.S. dollars, down by 8 percent year on year but narrowing from the January to September decrease, said the CAAM.

China's auto market, hit by COVID-19, began to recover in April thanks to unleashed pent-up demand and supportive policies, with sales rising by 4.4 percent year on year, which ended the contraction streak over the previous 21 months, according to CAAM.

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