Saturday, December 3, 2022

China’s automobile manufacturing sector posts revenue growth

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China’s automobile manufacturing industry posted positive revenue growth in the first eight months of this year, official data showed.

According to the National Bureau of Statistics (NBS), the sector raked in some 5.7 trillion yuan (about 802.84 billion dollars) during the January-August period, up 3.3 per cent.

In the first eight months of this year, the country’s automobile output reached 16.97 million units, up 4.8 per cent year on year.

According to the China Association of Automobile Manufacturers, automobile sales totaled 16.86 million units, rising 1.7 per cent compared with the same period of 2021.

NBS data showed that pro-consumption policies helped to boost the industry’s profit by 100 per cent year on year in Aug.

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


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