China’s Vehicle Imports Up 72%

This is up almost 72% on a year earlier.

The imports were worth US$4.84 billion and most came from Europe, South Korea and the U.S. Luxury cars and SUVs with engines of over three litres accounted for 49,000 of the vehicles imported. This was up 110% on a year ago.

The main buyers of SUVs were described by China's General Administration of Customs as private mine owners, real estate developers and owners of private entertainment businesses. China lowered import tariffs on cars, cross-country vehicles and mini-buses from 28% to 25% on July 1.

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