China auto imports, exports further expand
China Daily, 23 Nov '20
China's automobile imports and exports continued its growth momentum in October by gaining 48.9% year-on-year, according to data provided by the China Association of Automobile Manufacturers (CAAM).
Last month, the import and export volume totaled US$15.33 billion, gliding by 2% from a month earlier, said the CAAM, citing customs data.
In breakdown, auto imports climbed by 73.3% year-on-year to US$8.33 billion in October while exports rose by 27.5% to US$ 7 billion during the period.
In the first ten months of the year, auto imports and exports totaled US$118.37 billion, down by 8% 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% year-on-year, which ended the contraction streak over the previous 21 months, according to CAAM.