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China's auto exports increase 22% in 2008

CHINA'S export of autos, including auto parts and components, jumped 21.6 percent to US$49.73 billion last year, but down 23.71 percentage points compared with the previous year, the China Association of Automobile Manufacturers said yesterday.

Total imports reached US$31.43 billion, a 20.96-percent increase year on year, according to the association. The pace of the country's auto exports slowed last year, especially in the second half, affected by shrinking overseas markets.

China exported 680,700 cars last year, an 11.1-percent rise year on year. However, the growth rate tumbled 48.27 percentage points compared with the first half and 67.85 percentage points from 2007. Car exports declined for five consecutive months from August.

China imported 410,100 cars worth of US$15.13 billion last year, up 30.53 percent by number and 41.65 percent in value from 2007. The growth was slightly down compared with the previous year, which was 37.9 percent by number and 45.3 percent in value.


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