China’s automobile manufacturing industry logs steady growth in Q1-Xinhua

BEIJING, May 12 (Xinhua) — China’s automobile manufacturing industry registered strong expansion in the first quarter (Q1) of this year, the latest data from the China Association of Automobile Manufacturers showed.

During the period, the sector’s industrial added value rose 9.7 percent year on year, 3 percentage points higher than that for China’s overall manufacturing industry, according to the association.

The combined operating revenue of this sector came in at 2.25 trillion yuan (about 316.85 billion U.S. dollars), up 6.2 percent from the same period last year.

The total profits of companies in the sector jumped 32 percent on a yearly basis to 103.95 billion yuan, the data revealed.  ■