BUSINESS China's auto imports, exports further recover in August

BUSINESS

China's auto imports, exports further recover in August

Xinhua

15:00, September 26, 2020

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File photo: CGTN

BEIJING, Sept. 26 (Xinhua) -- China's automobile imports and exports continued to rebound in August by gaining 9.2 percent month on month, according to data provided by the China Association of Automobile Manufacturers (CAAM).

Last month, the import and export volume totaled 13.48 billion U.S. dollars, up 4.1 percent year on year, said the CAAM, citing customs data.

Month on month, auto imports climbed 10.6 percent to 7.11 billion dollars in August while exports rose 7.6 percent to 6.37 billion dollars during the period.

In the first eight months of the year, auto imports and exports totaled 87.39 billion U.S. dollars, down 16.3 percent year on year but narrowing from the January-July 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 4.4 percent year on year. This ended a contraction streak over the previous 21 months, according to CAAM. 

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