AUTO

China imports 50% more autos in first 7 months China's auto import grew faster in the first seven months of this year, as world auto giants turned to the Chinese market after the U.S. economic slump and rocketing oil prices drove sales down on U.S. and European markets, the General Administration of Customs said on August 24. Domestic demand for large-engine vehicles also strengthened as many people bought in advance of a consumption tax hike that is due to take effective on September 1.

AUTO