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China imports more motor vehicles in 1st two months

(Xinhua)
Updated: 2008-05-02 14:54

China's motor vehicle imports soared sharply on strong demand at home in the first two months of this year, sources with the General Administration of Customs said on Friday.

From January to February, China imported 62,000 motor vehicles for $2.26 billion, up 82.6 percent and 93.4 percent, respectively, on the same period of last year. The growth rates were 63.9 percentage points and 80.8 percentage points higher, respectively.

In February alone, the imports were 33,000 vehicles, up 130 percent, the highest growth rate since January 2007.

Foreign-funded companies accounted for 67.4 percent, or 42,000 vehicles, of the country's total imports in the first two months, up 70 percent. Among them, wholly-owned foreign firms imported 35,000 vehicles, up 96.5 percent. Their share in arrivals nationwide went up to 56.8 percent from 52.8 percent a year earlier.

Off-road vehicles made up for 50 percent, or 31,000 units, of the total imports, up 140 percent, while cars accounted for 39.6 percent, or 25,000 units, up 45.6 percent.

Japan surpassed the European Union to become the biggest supplier of motor vehicles to China, with a sales volume of 24,000 vehicles, up 130 percent. The EU exported 21,000 vehicles to China, up 59.3 percent.