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Auto Price Up Slightly in July
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The price of both domestically produced and imported cars rose slightly in China in July, according to the National Development and Reform Commission (NDRC).


The price of China-made autos rose 0.18 percent from June, but was down 1.93 percent from July last year.


Prices of imported cars saw a month-on-month rise of 0.25 percent in July, and up 8.35 percent from July last year.


Cheng Xiaodong, an analyst on price supervision of the NDRC, predicted prices would continue to drop moderately in the second half.


Overproduction, surging oil prices, and the government's control on auto credit lending would all drive prices down in the second half, said Cheng.


However, the government's macro-economic measures to control growth are expected to slow production and prices would fall steadily and slightly, he said.


(Xinhua News Agency August 17, 2006)


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