China's auto parts import value down 12.4% in 2023

BEIJING - China's auto parts import value fell 12.4 percent year-on-year to $29.84 billion in 2023, data from the General Administration of Customs showed.

However, auto parts import value increased by 9.1 percent in December 2023 compared with a year earlier, totaling $3.01 billion.

Last year, China's new car sales exceeded 30 million units for the first time, up 12 percent year-on-year.

Vice-Minister of Commerce Sheng Qiuping said at a press conference earlier this month that car ownership had reached 340 million in China -- ranking first in the world.