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).
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.