China's car exports up, imports down

China’s car exports up, imports down

China continues to play upon its competitive strength as the country's expanding automotive industry narrowed the gap between exports and imports during the first half of the year. China's exports of automobiles and spare parts reached $4.88 billion in the first six months of the year, up 38.3 percent year on year. However, the country's imports of automobiles and spare parts fell 36.2 percent year on year to $5.54 billion during the same period. Market watchers indicate that automobiles manufactured in China are very competitive in the world market in terms of price. Accordingly, car exports are projected to show a rise in the long run. As for imports, one of the main contributing factors to their decline has been the increased production of domestic-made cars. Other factors negatively affecting imports as of late have been exchange rate fluctuations and the appreciation of the euro.