China's auto industry logs robust growth in January-May

BEIJING - China's automobile industry registered steady expansion in terms of production, revenue and profit during the first five months of this year, industry data showed.

The industrial added value of the sector rose 14.2 percent year-on-year during the period, 10.2 percentage points higher than the overall manufacturing industry, and an increase of 2.4 percentage points from the January-April period, according to the China Association of Automobile Manufacturers.

The combined operating revenue of companies in the sector went up 14.3 percent year-on-year to 3.63 trillion yuan ($508 billion ), the association said.

Total profits of these companies hit 174.62 billion yuan in the same period, surging 24.3 percent year-on-year, the data showed.