China's auto imports, exports further expand

BEIJING - China's automobile imports and exports continued its growth momentum in October by gaining 48.9 percent year-on-year, according to data provided by the China Association of Automobile Manufacturers (CAAM).

Last month, the import and export volume totaled $15.33 billion, gliding by 2 percent from a month earlier, said the CAAM, citing customs data.

In breakdown, auto imports climbed by 73.3 percent year-on-year to $8.33 billion in October while exports rose by 27.5 percent to $7 billion during the period.

In the first ten months of the year, auto imports and exports totaled $118.37 billion, down by 8 percent 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 percent year-on-year, which ended the contraction streak over the previous 21 months, according to CAAM.