BCN-27 China’s automobile imports surge in July

ZCZC

BCN-27

CHINA-AUTOMOBILE-IMPORT

China’s automobile imports surge in July

BEIJING, Aug. 26 (BSS/Xinhua) — China’s automobile and chassis imports
witnessed strong growth in July thanks to government moves to lower tariffs
for autos and auto parts.

The value of vehicle and chassis imports rose 66.1 percent to 48.46
billion yuan (about 7 billion U.S. dollars) last month, according to the
General Administration of Customs.

China imported 165,000 vehicles and chassis in July, surging 266.7 percent
from June and up 50 percent year on year.

The Ministry of Finance announced earlier this year that China would cut
import tariffs on vehicles and auto parts starting July 1, with tariffs for
vehicles down from 25 percent and 20 percent to 15 percent.

In the first seven months of 2018, the total value of vehicle and chassis
imports edged up 2.2 percent, while the amount was down by 3.1 percent year
on year.

Automobile and chassis export value rose 35.3 percent in July and 17.9
percent in the first seven months.

BSS/XINHUA/SR/1900 HRS