Much Slower Growth Recorded in Auto Market
China produced 18.42 million vehicles and sold 18.51 million units in 2011, up just 0.8% and 2.5% from the year before, far slower than the rates seen a year earlier as the government scrapped some incentives for car purchases, the China Association of Automobile Manufacturers said.
China May Hike Fuel Prices
China will probably adjust fuel prices Tuesday after the pricing division of the National Development and Reform Commission held a meeting today, a person familiar with the matter said. The economic planner raised gasoline and diesel prices by ¥300/ton on February 8, the first adjustments since the start of 2012.
China to Be No 1 Importer
China will likely become the world's largest importer in the years to come, Commerce Minister Chen Deming said at a forum on the nation's development, citing 16% to 18% growth in retail sales over recent years, which were twice those of overall economic expansion.
$1 = ¥6.31