China's automobile manufacturing sector logs steady expansion in 2023

China's automobile manufacturing industry registered robust growth in 2023, data from the China Association of Automobile Manufacturers showed.

This was reported by The Xinhua News Agency.

Last year, the sector's industrial added value soared 13 percent year on year, 8 percentage points higher than that for China's overall manufacturing industry, according to the association.

The combined operating revenue of this sector came in at 10.1 trillion yuan (about 1.42 trillion U.S. dollars) in 2023, jumping 11.9 percent from the previous year.

The total profits of companies in the sector also rose 5.9 percent on a yearly basis to 508.63 billion yuan, the data revealed.