China auto sector’s profit grew at fastest pace in a year in August
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China auto sector’s profit grew at fastest pace in a year in August
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China auto sector’s profit grew at fastest pace in a year in August

 

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Driven by the government policy to boost auto consumption, China’s automobile manufacturing sector’s production and sales accelerated further in August, with profit surging by 100% year over year, marking the fastest growth in a year, said the China Association of Automobile Manufacturers, citing data from the National Bureau of Statistics.

In the first eight months of the year, the automobile manufacturing sector’s profit reached 316.3 billion yuan, falling by 7.3% from the same period last year, narrowing by 7.1 percentage points from the first seven months of the year, accounting for 5.7% for China’s total industrial profit, showed the data.