China's auto imports, exports further recover in August

BEIJING - China's automobile imports and exports continued to rebound in August by gaining 9.2 percent month-on-month, according to data provided by the China Association of Automobile Manufacturers (CAAM).

Last month, the import and export volume totaled $13.48 billion, up 4.1 percent year-on-year, said the CAAM, citing customs data.

Month on month, auto imports climbed 10.6 percent to $7.11 billion in August while exports rose 7.6 percent to $6.37 billion during the period.

In the first eight months of the year, auto imports and exports totaled $87.39 billion, down 16.3 percent year-on-year but narrowing from the January-July decrease, said the CAAM.

China's auto market, hit by COVID-19, began to recover in April thanks to unleashed pent-up demand and supportive policies, with sales rising 4.4 percent year-on-year. This ended a contraction streak over the previous 21 months, according to CAAM.