China's auto market posts robust growth in January-June

China's auto production and sales logged double-digit increases in the first half of the year (H1), a sign of vibrant domestic consumption in the world's second-largest economy, according to the latest official data released by the China Association of Automobile Manufacturers (CAAM) on Thursday.

Auto production and sales exceeded 15,000,000 units each in the first six months, both growing over 10 percent year on year.

New energy vehicles (NEVs) saw production hit 6,968,000 units, increasing by 41.4 percent year on year, while sales reached 6,937,000 units, up 40.3 percent year on year, and capturing 44.3 percent of overall new car sales in the six-month period.

In the first half of the year, auto exports increased by 10.4 percent on a yearly basis to reach 3,083,000 vehicles, with NEVs accounting for 1,060,000 units, a 75.2 percent increase from the same period of the previous year.

According to top leaders of the CAAM, the trade-in policy adopted by the Chinese government since last year has boosted expansion of the domestic auto market, and NEVs have maintained rapid growth with an increased market share.

The policies on large-scale equipment upgrades and consumer goods trade-in programs will continue through this year, fostering healthy and stable industry development.

China's auto market posts robust growth in January-June

China's auto market posts robust growth in January-June

South Korean President Lee Jae Myung said on Wednesday that Seoul firmly adheres to the one-China principle, in comments made ahead of his upcoming state visit to China.

The remarks were made in an interview with China Media Group (CMG). The visit is scheduled for Jan 4–7.

"The consensus reached between governments of the Republic of Korea and China when diplomatic relations were established continues to be the fundamental principle governing our relations, and its effectiveness remains steadfast. I want to clearly state that the ROK has always adhered to the one-China principle. Maintaining peace and stability in regional matters, including in Northeast Asia and concerning the Taiwan issue, holds significant importance to us," said Lee.

"The foundational relationship between the ROK and China was established on a very principled and fundamental basis from the beginning. It is clear that the ROK government has always adhered to this position and has never wavered from it. I believe that the sound development of ROK-China relations depends on both sides fully respecting each other's core interests and being mutually tolerant of each other's positions. In this context, we will, as always, uphold the one-China principle as the Taiwan issue is China's most fundamental concern," he said.

ROK president reiterates firm adherence to one-China principle