2022-10-11T15:58:00+03:00 China 2023-09-15T04:47:48+03:00

Ukrainian news

Ukrainian news

China's automobile manufacturing sector posts revenue growth

China's automobile manufacturing sector posts revenue growth

China's automobile manufacturing industry posted positive revenue growth in the first eight months of this year, official data showed. This was reported by The Xinhua News Agency.

The sector raked in some ¥5.7 trln (about $802.84 bln) during the January-August period, up 3.3%, according to the National Bureau of Statistics (NBS).

In the first eight months of this year, the country's automobile output reached 16.97 mln units, up 4.8% year on year. Automobile sales totaled 16.86 mln units, rising 1.7% compared with the same period of 2021, according to the China Association of Automobile Manufacturers.

Pro-consumption policies helped boost the industry's profit by 100% year on year in August, NBS data showed.

In the first eight months of 2022, the sector's profit shrank 7.3% year on year, with the decline narrowing by 7.1 percentage points over the first seven months.