Biz / Auto

China tops the world's largest auto market again

Being the world's largest auto market for nine consecutive years, China's production and sales of vehicles are expected to reach 29 million units this year.

China, as the world's largest auto market in the past nine consecutive years, is expected to sell 29 million units of cars this year, which will hit a new record, the Ministry of Commerce said during a conference yesterday.

With an inventory of more than 200 million vehicles, China has become the second largest country in the world in terms of car ownership, according to the ministry.

In the next step, China is going to deepen the structural reform in the entire automobile industry chain and accelerate the development to form a shared, economical and socialized automobile system.

The country will further expand application of technologies such as big data and cloud computing to improve the information management system of automobile industry. 

The ministry said it will also establish an enterprise credit information system and incorporate it into an unified exchange platform for credit information sharing.

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