Fixed-asset investment in China's automobile manufacturing sector logged double-digit growth in the first five months of the year, according to the China Association of Automobile Manufacturers.
From January to May, China's auto manufacturers saw investment increase by 11.2% year on year, up 0.8 percentage points from the first four months, the association said, citing data from the National Bureau of Statistics.
The Jan.-May auto investment growth was 5 percentage points higher than the increase of the country's total fixed-asset investment during the same period, the data showed.
The association's data also showed that China's auto production and sales saw a significant recovery in May, bringing auto-related retail sales to 318.6 billion yuan (about US$47.55 billion), up 24.1% from April.
The auto-related sales accounted for 9.5% of the country's total retail sales of consumer goods last month, up 0.8 percentage points from a month earlier, the association said.
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