China imports nearly 50pc more motor vehicles
Tuesday, 26 August 2008
BEIJING, Aug. 25 (Xinhua): China's auto import grew faster in the first seven months of this year, as world auto giants turned to the Chinese market after the US economic slump and rocketing oil prices drove sales down on US and European markets, the General Administration of Customs said yesterday.
Domestic demand for large-engine vehicles also strengthened as many people bought in advance of a consumption tax hike that is due to take effective on September 1, the administration added.
Between January and July, China imported 247,000 motor vehicles, a growth of some 48 per cent on the same period of last year. The growth rate was 14.6 per centage points higher than the year-earlier level.
The arrivals were valued at 9.17 billion U.S. dollars, up 66.3 per cent.
Most of the imports were luxury cars.
Earlier report said 92,000 vehicles each with an engine displacement of at least 3 liters were imported, up 86.9 per cent. The growth rate was 33.7 per centage points higher than the average for the total. Their proportion was up to 43.9 per cent from 35.9 per cent a year ago.
Japan, the European Union, the Republic of Korea and the United States were the top four sources for China's auto imports.
Domestic demand for large-engine vehicles also strengthened as many people bought in advance of a consumption tax hike that is due to take effective on September 1, the administration added.
Between January and July, China imported 247,000 motor vehicles, a growth of some 48 per cent on the same period of last year. The growth rate was 14.6 per centage points higher than the year-earlier level.
The arrivals were valued at 9.17 billion U.S. dollars, up 66.3 per cent.
Most of the imports were luxury cars.
Earlier report said 92,000 vehicles each with an engine displacement of at least 3 liters were imported, up 86.9 per cent. The growth rate was 33.7 per centage points higher than the average for the total. Their proportion was up to 43.9 per cent from 35.9 per cent a year ago.
Japan, the European Union, the Republic of Korea and the United States were the top four sources for China's auto imports.