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China auto revenue, profit likely flat this year, official says

FILE PHOTO: Newly manufactured cars are seen at a port in Dalian, Liaoning province, China April 10, 2020. China Daily via REUTERS

TIANJIN, China (Reuters) - China’s auto industry will likely maintain steady revenues and profits this year despite slight declines in production and vehicle sales, a government official said on Saturday, as the world’s biggest car market recovers from the impact of COVID-19,

Cai Ronghua, senior official at National Reform and Development Commission, made the remarks to an industry conference hosted by China Automotive Technology and Research Center in Tianjin.

China’s auto sales, the world’s biggest, have been recovering since April after the pandemic hit the market hard early in the year.

Reporting by Yilei Sun and Brenda Goh; Editing by William Mallard

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