China's auto sales rose nearly eight percent year-on-year in January ahead of national holidays Samaje Perine Limited Jersey , an industry group said Friday, picking up pace in a traditionally strong period for car purchases.
China is the world's largest car market, but its vehicle sales increased at their slowest rate in three years in 2015 as the country's economy encountered headwinds.
Auto makers sold 2.5 million vehicles in China last month, up 7.7 percent year-on-year, the China Association of Automobile Manufacturers (CAAM) said in a statement.
Vehicle sales traditionally peak in January Fabian Moreau Limited Jersey , ahead of the Lunar New Year, the most important annual holiday in the country.
China slashed the purchase tax on passenger cars with small engines in October, which continues to boost the auto market.
China?s gross domestic product increased at its the lowest rate since 1990 last year, when vehicle sales rose nearly five percent to 24.6 million.
But industry group CAAM last month forecast auto sales would rise 6 percent year-on-year in 2016, improving from last year Ryan Anderson Limited Jersey , Bloomberg News reported.
Sales of major foreign brands were among those which increased in January. US auto giant General Motors (NYSE: GM - news) sold more than 420,000 vehicles, up 7.3 percent year-on-year, according to the company.
US auto maker Ford said sales surged 36 percent to a record 130,832 last month Jonathan Allen Limited Jersey , helped by purchases of SUVs (sport utility vehicles (Other OTC: UBGXF - news) ).
Premier Li: You raised a very important question, particularly in the context of the growing backlash against globalization. There have been as many as 3,000 protectionist measures adopted by various countries in the past ten years since the outbreak of the international financial crisis. The entry into force of the Trade Facilitation Agreement, which was adopted by the WTO in 2013, would be beneficial for global economic recovery and for guiding market expectations.
The TFA is the first multilateral agreement on trade in goods China acceded to after joining the WTO. The Chinese State Council completed domestic procedures for its ratification in less than two years. As things stand Deshazor Everett Redskins Jersey , some one third of the WTO members are yet to go through ratification procedures. We hope all parties will work together for the TFA to be fully implemented this year. According to estimates by experts, the TFA, once implemented, will add at least one trillion US dollars to global trade. That would undoubtedly be good news for a steady global recovery.
While observing the TFA, China will advance trade facilitation as much as possible in line with its national conditions. First Rob Kelley Redskins Jersey , we will consolidate the mandate of various agencies to streamline customs clearance procedures for businesses by establishing ""single window"" service centers.
Second, we will make customs clearance faster. We intend to shorten the time needed for customs clearance by another one third this year, and will aim to meet the most advanced international standards regarding customs clearance procedures and speed in the not so distant future.
Third, we will enhance cooperation with other countries, particularly in mutual recognition of inspection between regulatory authorities Zach Brown Redskins Jersey , to avoid repetitive procedures and lower costs for businesses.
These are the technical measures we will take. What is most important, I believe, is that we must recognize the valuable role of free trade in boosting global economic recovery. Trade liberalization and investment facilitation is the hallmark of free trade. When everyone acts to promote free trade with an open-minded approach, this will provide consumers with more choices and compel domestic companies to innovate and upgrade. In the meantime, we should take account of the varying national conditions of different countries D.J. Swearinger Redskins Jersey , and adopt measures to cushion the impact on certain sectors through consultation among countries on the basis of mutual understanding and mutual accommodation. But overall we need to keep to the right direction.
Professor Schwab: Mr. Premier, I want to take this opportunity to ask you a question about the development of the Internet and digitization. The Internet Plus policy is a very important national strategy. But if we look at digitization, we can no longer make differentiation between digital industries and old-fashioned industries. Today, every industry is digitized. Could you share with us what your experiences and challenges are in this aspect? Particularly, how the international business community could be more meaningfully engaged into China's efforts of overall digitization of its economy?
Premier Li: The introduction of the Internet has given rise to a mushrooming of new forms of business. And big data application has become a trend. We must adapt to this trend in order to seize as many opportunities as possible. Traditional industries did come under challenges. I once cited the example of physical stores going through the painful experience of confronting or even conflicting with online shops. Now many physical stores have also opened their own online stores Stacy McGee Redskins Jersey , which has made them more competitive. As we can see, notwithstanding the numerous challenges, we have more ways and means to overcome them.
The Internet Plus strategy the Chinese government has been advancing is inherently open to the world. We have in China a large number of cloud platforms that are attractive to foreign businesses or individuals. Foreign companies are getting registered on such platforms in large numbers. In sectors of basic telecommunications and value-added services in China, many business areas are now open to foreign investors, which represents the highest level of openness so far among all developing countries. This means tremendous opportunities for foreign firms.
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