Chinese Automotive Sector Rebounds

Cin Automotive Sector Is Recovering
Chinese Automotive Sector Rebounds

It has been reported that there is a recovery trend in China's automotive sector. According to the data released by the Ministry of Industry and Informatics of China, the number of vehicles produced by the 1 main enterprises in the country in the period of May 18-15 decreased by 32 percent compared to the same period of the previous year and decreased to 680. However, the said decrease rate narrowed by about 20 points compared to April.

China's Deputy Minister of Industry and Informatics, Xin Guobin, stated at a meeting held yesterday that the relevant units were considering policies to encourage automobile sales.

Xin noted that a platform was established to coordinate industry and supply chains in order to help get back to work and to minimize the effects of the epidemic, and the positive results of this practice are starting to be seen.

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