This photo taken on Dec 4, 2020 shows new energy vehicles (NEVs) during a promotional activity for NEVs in rural areas held in Kunming, Yunnan province. (PHOTO / XINHUA)
BEIJING — China's automobile manufacturing sector led the country's industrial recovery in the first 10 months of this year, reporting steady growth in terms of output, revenue and profits, industry data shows.
The industrial added value of the sector rose 8.1 percent year on year in the period, up 1.2 percentage points from the first three quarters and 4.7 percentage points higher than the whole manufacturing industry, according to the China Association of Automobile Manufacturers.
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The combined operating revenue of companies in the sector neared 7.49 trillion yuan (about $1.07 trillion), up 8 percent year on year, at a pace 2.1 percentage points faster than the overall manufacturing industry.
China's auto manufacturers raked in total profits of 425.06 billion yuan in the January-October period, up 0.8 percent from the same period last year, the data shows.