According to the "China's Foreign Trade Situation Report (Fall 2010)" issued by the Ministry of Commerce today:
In the first three quarters, imports of crude oil, iron ore, and its concentrates and unforged copper and copper materials were 1010.7, 556.9, and 24.58 billion U.S. dollars, respectively, representing year-on-year growth rates of 72.3%, 52.5%, and 49.6%, respectively; The gains reached 38.8%, 56.3% and 51.6%, respectively, becoming the most important factor in the increase in imports. Among the top 10 imported goods, the import of automobile and automobile chassis reached 21.81 billion U.S. dollars, and the import volume increased by 127.7% year-on-year.
Affected by the fade out of the subsidy policy for purchase vehicles, the auto market in developed countries has returned to the downturn. In July 2010, global auto sales fell by 6.5% year-on-year and 7.1% year-on-year, and the downward trend continued. The sales of major US automakers both declined. In August, the number of new cars on the German car dropped by 27% year-on-year, France fell by 9.8%, Italy and Spain by 19.3% and 24%, respectively, which were the lowest levels in the past 20 years. Growth rates in emerging markets such as Asia Pacific and South America have also slowed. New energy-saving and environmentally-friendly vehicles have become the new direction of development. The US government plans to develop a battery for electric vehicles with a budget of US$2.4 billion. The Japanese government plans to spend CNY 106 billion to develop environmentally friendly vehicle technologies such as electric vehicles. The goal is to increase the penetration rate of environmentally friendly vehicles by 2020. 20%-50%; The EU announced that it will invest US$1 billion in the development of electric vehicle batteries; the Korean government will introduce various tax incentives for new energy vehicles.
In the first three quarters, imports of crude oil, iron ore, and its concentrates and unforged copper and copper materials were 1010.7, 556.9, and 24.58 billion U.S. dollars, respectively, representing year-on-year growth rates of 72.3%, 52.5%, and 49.6%, respectively; The gains reached 38.8%, 56.3% and 51.6%, respectively, becoming the most important factor in the increase in imports. Among the top 10 imported goods, the import of automobile and automobile chassis reached 21.81 billion U.S. dollars, and the import volume increased by 127.7% year-on-year.
Affected by the fade out of the subsidy policy for purchase vehicles, the auto market in developed countries has returned to the downturn. In July 2010, global auto sales fell by 6.5% year-on-year and 7.1% year-on-year, and the downward trend continued. The sales of major US automakers both declined. In August, the number of new cars on the German car dropped by 27% year-on-year, France fell by 9.8%, Italy and Spain by 19.3% and 24%, respectively, which were the lowest levels in the past 20 years. Growth rates in emerging markets such as Asia Pacific and South America have also slowed. New energy-saving and environmentally-friendly vehicles have become the new direction of development. The US government plans to develop a battery for electric vehicles with a budget of US$2.4 billion. The Japanese government plans to spend CNY 106 billion to develop environmentally friendly vehicle technologies such as electric vehicles. The goal is to increase the penetration rate of environmentally friendly vehicles by 2020. 20%-50%; The EU announced that it will invest US$1 billion in the development of electric vehicle batteries; the Korean government will introduce various tax incentives for new energy vehicles.
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