MIIT actively working on introducing stimulus policies to boost automobile consumption in China

AL Circle

Ministry of Industry and Information Technology (MIIT) is actively cooperating with relevant ministries and commissions to study policies and suggestions for boosting and stabilising automobile consumption in China. Such was the statement of Xin Guobin, Deputy Minister of MIIT at a press conference during China’s Manufacturing Industry Resumption Meeting on Monday, March 30.

MIIT actively working on introducing stimulus policies to boost automobile consumption in China

{alcircleadd}

Following the MIIT’s calls, many Chinese provinces have already issued supportive measures to boost car consumption, added Xin in his statement. He believes more stimulus policies will make their way shortly.

Xin also mentioned the operational status of the car industries during the press conference. He said the overall operating rate of the industry increased to 97 per cent from around 60 per cent. The rate of returning employees rose 82 per cent from nearly 50 per cent since March 19.

The resumption of production is high too, but some of the barriers to continual improvement include sluggish consumer demand, which may lead to disruptions in production during the time ahead.

Data from the China Association of Automobile Manufacturers (CAAM) showed China produced 285,000 vehicles and sold 310,000 units in February, down 79.8 per cent and 79.1 per cent year-on-year, respectively.

Industry 4.0 in Aluminium

Total production and sales of automobiles in the first two months of the year stood at 2.048 million and 2.238 million units, respectively, registering a decline of 45.8 per cent in production and a fall of 42 per cent in sales from the same period last year.

Due to this, the price of aluminium alloy (ADC12), which is widely used in automotive production in China, has moved down significantly since the beginning of January.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals.

Alternate Text
XIAN HUAN-TAI TECHNOLOGY

Your reliable partner in aluminum casthouse equipment and products

Alternate Text
Fioscope

Fioscope provide air-cooled camera technology for high temperature applications

Related
Business Leads
We are looking for 10 micron aluminium rolling mil. Destina...
30 Oct 2024 Buying request

We have a requirement of an aluminium solar frame. Refer to ...
15 Oct 2024 Buying request

We have requirement of aluminium section domal window. Dest...
03 Oct 2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads