(JW Insights) May 15 -- China's automobile manufacturing sector saw stable output and revenue growth in the first quarter of this year, with a 4.4% year-on-year growth in the sector's industrial added value, according to data from the China Association of Automobile Manufacturers (CAAM), reported China Daily on May 14.

According to CAAM, the industrial added value of the sector rose 5.4 percentage points from the first two months and was 1.5 percentage points higher than the whole manufacturing industry in the same period.

In March alone, the sector's industrial added value jumped 13.5% year on year, the data revealed.

During the first three months of 2023, the combined operating revenue of companies in the sector topped RMB2.14 trillion ($308 billion), up 1.3% year-on-year. The pace was 2.6 percentage points faster than that of the overall manufacturing industry, said the China Daily report.

(Chen HX)