The report of the China Association of Automobile Manufacturers showed that in February China sold 1.2 million passenger cars, which is 17% more than in the same month a year earlier. The association notes a decline in the past eight months. At the same time, cars on new energy sources in February were sold by 53% more than a year earlier, helped by stimulating demand measures by the government of the PRC. This figure reached 49 thousand cars. The share of such cars in the Chinese market was 4%, an increase from 1.7% in February 2018. According to the China Passenger Car Association, the auto retail sales rate in the country fell by 18.5% in February. Its decline is observed for the ninth months in a row.
China cuts benchmark lending rate to support virus-hit economy20.02.2020
S&P and Nasdaq close on record gains amid hopes on new China stimulus17.02.2020
Asian shares inch up to three-week highs on China’s support measures14.02.2020
Honda to resume auto production in China plants on February 21