Home / Business / Auto Tools: Save | Print | E-mail | Most Read | Comment
Growth in auto exports slows in first half year
Adjust font size:

China's auto exports grew at a slower pace in the first half, due partly to the U.S. credit crunch, rising oil prices, mounting production costs at home and appreciation of the Chinese currency, the General Administration of Customs said on Tuesday.

More difficult access to some target markets, including Russia and Venezuela, also accounted for the slowdown, the administration added.

From January to June, China exported 361,000 motor vehicles, a growth of 58.5 percent on the same period of last year. However, the growth rate was 17.1 percentage points lower than the year-earlier level.

The exports were valued at 4.62 billion U.S. dollars, up 89 percent. The growth rate was 28.2 percentage points lower.

Of the total, 48,000 motor vehicles were sold to Russia, up 26.2 percent, compared with the 300-percent growth rate a year earlier.

However, sales to ASEAN member nations soared 270 percent to 54,000 units, including 46,000 to Vietnam, up 300 percent.

Domestic automakers accounted for 73.2 percent, or 264,000 of the total vehicle exports, up 72.4 percent. Of these, 176,000 were produced by state-owned enterprises, up 58.3 percent, and 75,000 by private companies, up 89.2 percent. The growth rates were 29.2 percentage points and 9.5 percentage points, respectively, lower than the year-earlier level.

(Xinhua News Agency August 19, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Boost to auto export
- China to Continue Auto Export Expansion: Vice Premier
- China into Top Gear for Auto Export Zones
Most Viewed >>
- Jordan, China ink deal on nuclear energy
- China allocates US$512m to support small enterprises
- China's energy prices 'close to international levels'
- Talk of gov't support drives China stocks up more than 7%
- Nation to get key oil bases by year end
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?